Insurance / Indemnity / Liability
Thümmel, Schütze & Partner has long experience of providing legal advice on all types of insurance, covering the liability of companies, managers and members of liberal professions alike. In this field the firm focuses on personal liability insurance (including professional liability, employers’ liability and product liability insurance), fidelity insurance and all kinds of property insurances. We undertake, for insurers as well as insured companies and professionals, the processing of complex insurance claims and draft terms and conditions of insurance contracts.
Lawyers in the firm have considerable expertise and diverse experience with D&O insurances. Since the introduction of D & O insurances in Germany our lawyers have been representing the interests of leading foreign and domestic D&O insurance companies out of court as well as in court, acting as monitoring counsel, coverage counsel or defence counsel for directors and members of management boards and supervisory boards. In this capacity we have been and continue to be involved in the settlement of a number of significant liability cases. We have been retained as counsels of the excess liability insurance consortium in the liability suit following a statement by the former chairman Jürgen Schrempp referring to the merger of Daimler-Benz and Chrysler.
We are therefore aware of the problems and issues arising out of the interface between corporate law and D&O insurance terms, securities class-action loss suits filed in the USA or SEC proceedings and issues concerning the participation of insurance consortiums.