Finlex provides new digital concept for criminal legal protection for companies

In times of increasing criminal investigations against business leaders and managers, InsurTech company, Finlex, is expanding its product range and is now offering a new digital placement process for special criminal legal protection for companies. Initially, offers originate from two risk carriers. In view of the risks from investigative proceedings, this insurance forms part of comprehensive risk management for every company. 

Risks of criminal investigation 

Even companies and managers who are convinced that everything at their company really runs in accordance with the law can quickly attract the attention of investigating authorities, whether due to an anonymous tip-off or a criminal complaint from an authority or a competitor. 

A successful defence against criminal charges requires specialised lawyers, who often only bill according to fee agreements. Germany does not have corporate criminal law, which is why criminal investigations are always directed against employees or managers of the company. For these, the defence costs can threaten the company’s continued existence in individual cases. There is a risk of damage to the company’s image in the event of a report in the press that can adversely affect the business.  

Digital platform product 

Finlex offers this special criminal legal protection for companies on its online platform with risk bearers, ARAG and ROLAND. These underwrite insurance cover that is both smart and digital at an above-average high level and with a relatively low need for information. The insurance sums offered of EUR 0.5 million and EUR 1.0 million EUR are available to the insured parties for each legal protection claim. 

Brokers can straightforwardly receive detailed settlement offers for their customers in a very short time. They can also use the new landing page for this, providing customers with the questionnaire and useful product information via email link. 

Favourable conditions 

“The insurance conditions are characterised by an extended group of co-insured persons, co-insured subsidiaries, an advantageous regulation on the exclusion of intent, extensive company modules and a variety of assistance benefits”, highlights Andreas Wilde, Product Manager Liability Lines & Legal Protection at Finlex. 

The following image is authorised for reprinting subject to editorial, non-commercial use only. 

Andreas Wilde | (press photo ) 

Photo credits: Finlex GmbH 

About Finlex GmbH 

Finlex – the online insurance platform for commercial and industrial customers with a focus on financial lines such as D&O, Cyber, criminal legal and PI insurance. 

In the Insurance industry Finlex is considered as one of the few ‘scale-ups’ with enormous potential. Scale-ups are start-ups that have left the initial phase and are showing rapid growth. Finlex combines expert knowledge from the commercial and industrial insurance sector with the most advanced technology. The needs of the customer always come first.  The platform offers insurance brokers with a focus on corporate clients a white label solution with market-leading specialty products and all relevant insurers in one place. From tendering to contract, renewal and portfolio functions to an extensive knowledge base, the platform provides brokers with their own digital infrastructure. For insurers, it enables automated underwriting (robo-underwriting) for financial lines products and access to the leading industry brokers in Germany, Austria and soon France. Finlex is headquartered in Frankfurt am Main with offices in Barcelona, Berlin, Düsseldorf, Essen, Paris, and Vienna. The company was founded in 2015 and today employs more than 130 people.