Directors and officers (D&O) insurance in Colombia

It's directors and officers liability insurance (póliza de directores y administradores). Depending on its terms, it can cover directors' legal defense, compensation for claims, investigation costs and, in some cases, the company.

The policy defines who is insured. As a reference, Ley 222 de 1995 (art. 22) considers administrators to be the legal representative, the liquidator, the factor (establishment manager), board members and whoever holds or exercises those functions under the bylaws.

Ley 222 de 1995 (art. 24) makes administrators jointly and unlimitedly liable for damages they cause through intent (dolo) or fault. D&O protects their personal assets, depending on the policy, although intent can't be insured (Commercial Code, art. 1055).

It depends on the company's size and industry, its financial situation, the insured amount and claims history. We compare SURA, Chubb, Allianz, Zurich and other insurers and quote for free.

Usually company information: activity, size, financial statements and claims history. Each insurer has its own form. From Medellín, we guide you through the process and compare options for companies across Colombia.