Wirecard manager: Manager liability insurance almost used up - implications for lawyers and consultants.

Wirecard manager: Manager liability insurance almost used up - implications for lawyers and consultants.

According to a report from amp2.handelsblatt.com, the first insurance from Wirecard managers announces the end of payments. The basic amount of Wirecard's manager liability insurance has almost been used up and other contractual partners now have to pay for lawyers and consultants, depending on the court's ruling.

Wirecard's liability insurance has an enormous impact on the market and the insurance companies involved. The lawsuits and legal proceedings result in enormous costs for insurers, particularly for Chubb's basic insurance. The manager liability insurance totals 150 million euros and is covered by a consortium of several insurers. After Chubb has almost used up the basic amount, the other insurers involved have to pay, which leads to significant financial burdens.

The impact on the market and the industry is significant. The insurers will try to avert the payments by asserting their own conditions and new findings from the criminal proceedings against the former Wirecard managers. The financial burden on insurers could lead to an adjustment of insurance premiums and conditions in the industry. In addition, the reputation of the insurance companies involved could be affected due to their handling of the Wirecard case.

Overall, it is clear that the financial consequences and legal disputes in connection with Wirecard's manager liability insurance have a significant impact on the market, the insurance companies involved and the industry as a whole. It remains to be seen how further developments in this case will affect the insurance industry.