# 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.

Quelle/Source: https://www.nammert.com/en/business-insurance-interim-manager.php  
Updated: 2026-10-15

## The company has D&O cover. Do I need my own?

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.

## At a glance

- **Director liability:** Managing directors owe the GmbH the care of a prudent businessperson and are jointly liable for breaches (section 43 GmbHG)
- **Taxes:** Legal representatives are liable for taxes left unpaid through intentional or grossly negligent breach of duty (section 69 AO)
- **Insolvency filing:** No later than three weeks after insolvency and six weeks after over indebtedness (section 15a InsO)
- **Status:** Whether you are self-employed or employed can be decided by the German Pension Insurance (section 7a SGB IV)
- **Basic cover from:** about 1,200 euros a year for personal D&O of 1 million euros, a guide figure from our quoting work

## What goes wrong in this trade

- **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.
- **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.
- **Wrong decision:** An investment, site sale or contract turns out badly. The company claims damages.
- **Advice error:** Without a board role you advise on restructuring or purchasing. The client blames you for a costly mistake.
- **Status dispute:** The pension insurance treats your assignment as employment. Contributions and who pays them become the issue.
- **Illness:** As a self-employed person you get no sick pay. If you drop out of an assignment, fees stop at once.

**Risk radar** (Compared with other trades, 1 low to 5 high.): Liability 5, Fire and water 1, Theft 1, Cyber 3, Downtime 4, Health 2

## The insurance you need

- **D&O insurance** (Essential): 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. https://www.nammert.com/en/insurance-broker-directors-and-officers.php
- **Professional indemnity** (Strongly advised): For financial loss from advice and project work without a board role, which D&O does not always cover. https://www.nammert.com/en/insurance-broker-professional-indemnity.php
- **Business legal expenses** (Strongly advised): For disputes about fees, early termination or status. Criminal defence cover matters for directors in a crisis. https://www.nammert.com/en/insurance-broker-business-legal-expenses.php
- **Occupational disability** (Strongly advised): Your income depends on your ability to work. A monthly benefit protects your standard of living. https://www.nammert.com/en/insurance-broker-occupational-disability.php
- **Cyber insurance** (Depends on the business): For your own office and devices if client data is stored with you. https://www.nammert.com/en/insurance-broker-cyber-insurance.php
- **Accident insurance** (Depends on the business): For frequent travel between assignments and sites, with benefits for lasting injury. https://www.nammert.com/en/insurance-broker-accident-insurance.php
- **Business liability** (Depends on the business): For injury and property damage, for example during plant visits. https://www.nammert.com/en/insurance-broker-business-liability.php

## 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, excluding German insurance premium tax._

- [Limited Companies Act (GmbHG), section 43: director liability](https://www.gesetze-im-internet.de/gmbhg/__43.html)
- [Fiscal Code (AO), section 69: liability of representatives](https://www.gesetze-im-internet.de/ao_1977/__69.html)
- [Insolvency Code (InsO), section 15a: duty to file](https://www.gesetze-im-internet.de/inso/__15a.html)
- [Social Code IV, section 7a: status determination](https://www.gesetze-im-internet.de/sgb_4/__7a.html)

## Our suggestions: three packages

- **Project assignments** (Interim managers without a board role): Professional indemnity, Business legal expenses, Occupational disability. Together: about 3,200 to 6,900 euros a year
- **Interim director** (Appointed interim managing directors and board members): D&O insurance, Professional indemnity, Business legal expenses, Occupational disability. Together: about 4,500 to 9,500 euros a year
- **Turnaround** (Crisis, restructuring and pre insolvency assignments): D&O insurance, Professional indemnity, Business legal expenses, Accident insurance. Together: about 4,500 to 10,000 euros a year

## The worst day of an interim assignment

Six things interim managers really go through, all on one Thursday. Click through and see who pays.

- 08:00: The insolvency administrator of a former client claims back payments made after the company was insolvent. (€180,000, Paid by: D&O insurance)
- 10:20: The tax office issues a liability notice for unpaid wage tax. (€45,000, Paid by: D&O insurance)
- 12:30: A client says your advice on switching suppliers was wrong. (€60,000, Paid by: Professional indemnity)
- 15:10: Prosecutors investigate unpaid social security contributions and you need a defence lawyer. (€15,000, Paid by: Business legal expenses)
- 17:40: You crash the hire car on the way to the plant and are off for weeks. (€20,000, Paid by: Accident insurance)
- 20:00: The client ends the assignment early and does not pay the last invoice. (€24,000, Paid by: Business legal expenses)

**Damage so far:** €344,000

## 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.

## FAQ

### 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.

## Request quotes

We obtain quotes and come back with a comparison, free of charge. You can write in English. https://www.nammert.com/en/business-insurance-interim-manager.php#anfrage

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Your broker: Norman Nammert, trading as NAMMERT. Insurance broker licensed under section 34d(1) of the German Trade Regulation Act. Broker register no. D-C08Q-TOSD4-37. NAMMERT Assekuradeur GmbH is a separate company. It does not arrange your contract.

NAMMERT Assekuradeur GmbH, Karl-Marx-Straße 4, 15711 Königs Wusterhausen, +49 3375 29 12 77, info@nammert.com. Wikidata: Q141141479.