董監事及重要職員責任保險對公司治理之影響──以荷蘭為例

A Study on the Impacts of the Directors & Officers Liability Insurance on Corporate Governance─Evidence from the Nederland

公司董監事及重要職員責任保險資訊應公開揭露使眾所皆知，除以公司法第193條之1第2項規定投保保險金額、被保險人、承保範圍、保險費率，以及保險人應公開資訊外，即應要求公開揭露對保險種類、共保之保險公司、共保比例、附加條件、自負額、變更保險公司之原因及理由、投保狀況（如續保）或履約情形、超額保險部分及附加條款等有關保險條款重要資訊較為妥適。以強制性揭露該資訊，藉此提升資訊揭露品質，減緩公司董事、監察人及重要職員與投資人間之資訊不對稱問題，得實質增益公司治理品質。公司治理品質資訊之揭露，實可謂為觀察企業經營風險之表徵。 現有關董監及重要職員責任保險計算風險之要素，法令並未要求完全揭露，且保險人動輒以其為營業秘密為其由不揭露此資訊。又保險金額或自負額之變動與企業規模大小應相互對應，將可合理預測風險，使損害賠償責任不至於不足。故本文認為應建立「董監事及重要職員責任保險作業處理及資訊揭露相關作業規範參考範例」。對此，每年公布保險費、保險金額、自負額或其餘保險要素揭露資訊，逐年將相關保險要素揭露，藉由保險人評估潛在營運風險變動趨勢，由營運風險移轉間接顯示公司治理品質評估指標之參考。

The company insured information of the Directors & officers liability insurance that should public disclosure and be universally known. According to the corporation act article 193-1 in Paragraph, the insured amount, insured, insurance coverage, premium rate, assurer shall be public informed. The other should be public informed as to the insurance type, co-insurance companies, co-insurance ratio, imposition of condition, deductible, exchanged insurance company for the reasons and causes, insurance situation (as renewal or underwriting etc.), excess insurance, policy rider, etc. for insurance clause of better appropriation and important information. Disclosure information levels up the quality of disclosure information. It slows down information asymmetries among director and officers, supervisors and investors which is good for corporate governance. The quality information of corporate governance shall be disclosure and observed the risk characterization of enterprise business. A study on current calculates essence of risk to directors & officers liability insurance and article doesn’t be disclosure totally. On the basis of trade secrets, the essence of insurance shall not be solely disclosure. The amount of insured or deductible shall be changed according to the scale of enterprise. The business risk will be predicted reasonably that the amount of liability for damages can be enough. So the author believes that the “Directors& Officers Liability Insurance operating of deal and information disclosure practice for reference example” should be established. As to the premium, insured amount, deductible, or other essence of insurance should be information disclosure every year. By evaluating the potential business risk and trend which are the reference indexes for the corporate governance.