Michael Hendricks

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Michael Hendricks, 2009

Michael Hendricks (born June 30, 1954 in Duisburg ) is a German entrepreneur . He is the founder and managing director of Hendricks & CO in Düsseldorf, a company that specializes in D&O insurance. Michael Hendricks is considered a D&O pioneer in German-speaking countries.

Life

After studying law at the University of Cologne , Michael Hendricks worked for the law firm Donovan, Leisure, Newton & Irvine in New York from 1985 to 1987 , specializing in product liability. In 1987 he moved to the foreign department of AXA-Colonia , where he was entrusted with the development of product liability insurance . In 1990 he moved again and built up an industrial legal protection department for Roland legal protection insurance .

Hendricks recognized early on that the American standard D&O policies offered in Germany were not compatible with German law and that separate German-style D&O policies therefore had to be developed. The one-tier management committee of American corporations does not know the strict separation between management and control as it is institutionalized, for example, in the German stock corporation by the executive board (management) and supervisory board (control). That is why the internal liability of executive and supervisory boards did not play a role in the Anglo-Saxon D&O policies.

Michael Hendricks therefore developed his own D&O coverage concepts with detailed terms and conditions for the detention of executive and supervisory boards and offered them as a so-called wording specialist to leading D&O insurers.

In 1994, Hendricks was the first provider in Germany to manage D&O insurers not only covering claims for damages from third parties such as customers, suppliers, authorities and shareholders (external liability), but also obtaining unlimited coverage for possible recourse claims by the company against its executive and supervisory boards or managing directors and advisory boards enforce. Today nine out of ten D&O claims in Germany relate to cases in which managers are sued for damages by their own company.

Publications

  • Properly insure management risks . Freiburg 1995, ISBN 978-3930661077 .
  • As co-author: The GmbH managing director . Düsseldorf 2005.

Individual evidence

  1. ↑ Sonja Shinde: Banks in the crosshairs of justice. In: handelsblatt.com. December 15, 2008, accessed January 15, 2010 .
  2. ↑ Sonja Shinde: On the big game hunt. In: pnn.de. December 15, 2008, accessed January 15, 2010 .
  3. ↑ a b Klaus Werle: Tightened thumb screws. In: manager-magazin.de. June 26, 2008, accessed January 15, 2010 .
  4. ^ S. Baron, J. Leendertse (ed.): "Creative Destroyers - 100 German Founder Stories", WirtschaftsWoche, Handelsblatt Publishing Group, 1st edition 2001, Düsseldorf. Page 257f. ISBN 3-7754-0179-2
  5. ^ Henning von Boehmer: Other countries, other titles. In: handelsblatt.com. May 10, 2008, accessed January 18, 2010 .
personal data
SURNAME Hendricks, Michael
BRIEF DESCRIPTION German entrepreneur
DATE OF BIRTH June 30, 1954
PLACE OF BIRTH Duisburg