Insurance for interim managers and interim directors in Germany
Interim managers take on responsibility in other companies for a limited time, often in a crisis, a restructuring or a gap in management. Anyone appointed managing director (Geschäftsführer) of a German GmbH is personally liable to the company and can be held liable for unpaid taxes. Even without an appointment, advice can become expensive. This page explains the liability, the cover that matters for interim managers and interim directors and what it costs.
Often yes. The company's policy belongs to the company: all officers share the limit, it may be cancelled or exhausted in a crisis, and after you leave you have no influence over it. A personal D&O policy moves with you from assignment to assignment and protects you even if the company policy does not pay.
What goes wrong in this trade
01
Insolvency filed too late
You take over a company in crisis and the filing deadlines are already running. Creditors and the administrator come after you later.
02
Taxes not paid
Wage tax and VAT are left unpaid in the crisis. The tax office holds you liable as managing director under section 69 AO.
03
Wrong decision
An investment, site sale or contract turns out badly. The company claims damages.
04
Advice error
Without a board role you advise on restructuring or purchasing. The client blames you for a costly mistake.
05
Status dispute
The pension insurance treats your assignment as employment. Contributions and who pays them become the issue.
06
Illness
As a self-employed person you get no sick pay. If you drop out of an assignment, fees stop at once.
Personal D&O protects your private assets against director liability under section 43 GmbHG and other claims from your management role, independent of the client's policy.
For injury and property damage, for example during plant visits.
What it costs: example prices
Premiums depend on the limit, the sector and size of client companies, crisis assignments and claims history. Assignments close to insolvency are rated higher.
Insurance
Example
Typical range
D&O insurance
Personal D&O for interim managers, 1 million euros
about 1,200 to 2,500 euros a year
D&O insurance
Personal D&O with crisis assignments, 3 million euros
about 3,000 to 7,000 euros a year
Professional indemnity
Advice and project work, 500,000 euros
about 500 to 1,500 euros a year
Business legal expenses
Sole trader with contract and criminal defence cover
about 500 to 1,200 euros a year
Occupational disability
Age 50, executive, 3,000 euros monthly benefit
about 180 to 350 euros a month
For comparison: Personal D&O costs about as much a year as two day rates of an interim assignment.
All prices are guide figures from our own quoting work in 2026,
Six things interim managers really go through, all on one Thursday. Click through and see who pays.
Damage so far€344,000
The insolvency administrator of a former client claims back payments made after the company was insolvent.
€180,000 · Paid by: D&O insurance
The tax office issues a liability notice for unpaid wage tax.
€45,000 · Paid by: D&O insurance
A client says your advice on switching suppliers was wrong.
€60,000 · Paid by: Professional indemnity
Prosecutors investigate unpaid social security contributions and you need a defence lawyer.
€15,000 · Paid by: Business legal expenses
You crash the hire car on the way to the plant and are off for weeks.
€20,000 · Paid by: Accident insurance
The client ends the assignment early and does not pay the last invoice.
€24,000 · Paid by: Business legal expenses
Which package would you have had?
Paid by insurance: €0
Out of your own pocket: €344,000
Illustrative amounts before any excess.
What is paid depends on the policy terms.
Practical tips from your broker
Before each assignment, ask about the client's D&O: limit, term, extended reporting period and whether interim officers are covered.
Take out personal D&O that moves with you and has long run off cover.
In a crisis, check solvency and the deadlines in section 15a InsO on day one.
Have taxes and social contributions checked before you release payments.
If in doubt, clarify your status through the procedure in section 7a SGB IV.
Make sure you have criminal defence cover, because investigations come quickly in a crisis.
Why NAMMERT for your business
We read the terms
As an insurance broker, Norman Nammert compares several insurers and shows how personal D&O, run off cover and exclusions for crisis assignments differ.
Assignment and person together
D&O, professional indemnity, legal expenses and income protection are kept in one file.
Brokering since 1989
Our work is free for you; the insurer pays our commission. You speak to people who understand your work, in English or German.
Frequently asked questions
Questions and answers
What is an interim managing director liable for?
As an appointed managing director you owe the care of a prudent businessperson and are liable to
the company for losses from breaches under section 43 GmbHG.
Am I liable for the company's taxes?
Yes, as legal representative under section 69 AO,
if taxes are not paid or not paid on time through intentional or grossly negligent breach of duty.
Do I need my own D&O?
It is often sensible, because the company policy belongs to the client,
is shared by all officers and can lapse in a crisis.
Personal D&O protects you regardless.
How much does personal D&O cost?
As a guide figure from our quoting work, about 1,200 to 2,500 euros a year for 1 million euros,
more with crisis assignments and higher limits.
How can I clarify whether I count as self-employed?
The parties can apply to the German Pension Insurance (Deutsche Rentenversicherung Bund) for a
status decision under section 7a SGB IV.
Am I covered by D&O without a board role?
Not always.
For advice and project work, professional indemnity is often the right cover.
We look at both together.
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