Directors' insurance

Why choose Howden?

The Unemployment Guarantee for Managers allows company directors and managers to be covered in the event of involuntary job loss. It provides compensation proportional to previous income for executive corporate officers, self-employed workers, individual entrepreneurs, and creators/buyers of businesses in case of involuntary job loss.

Who is Job Loss Insurance for?

To the executive corporate officer deemed to be an employee: 

• in SAs: Chairman and Chief Executive Officer, Chief Executive Officer, Deputy Chief Executive Officer (director or non-director), Member of the Management Board,
•  in the SAS: Chairman, manager designated in the articles of association,
• in SARLs: Minority or egalitarian manager.

To the non-salaried manager:

• in SARLs: majority manager or associate manager of EURL,
• in other legal forms of business: entrepreneur in personal name, craftsman (registered only in the Directory of Trades), trader, manager of SNC, etc 

Are you covered in the event of job loss?

You are : 

• Individual entrepreneur registered with the RSI: you are never covered by Pôle emploi. The GSC allows you to maintain your income in job loss. 
• Assimilated employees: Check your situation with Pôle Emploi. Paying contributions to Pôle Emploi does not necessarily imply that you come under this organization.
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What does the manager's unemployment guarantee cover?

The manager's unemployment guarantee covers the company manager in all cases of involuntary loss of employment following events: 

Concerning the executive corporate officer: 

• revocation 
• non-renewal of the mandate pronounced against him
   

Affecting the company by court order:

• legal redress
• judicial liquidation
• judgment adopting a disposal plan
   

Affecting the company by amicable decisions under economic constraints: 

• early dissolution 
• assignment 
• merger absorption 
• deep restructuring
   

The state of unemployment is recognized in the event of legal loss of the corporate office or the status of business manager. 

Note: The GSC guarantees dismissal even when the corporate officer holds more than 10% of the share capital.

Note also: To benefit from the unemployment guarantee, you do not have to be in a situation of cessation of payments (bankruptcy). The cessation of activity of the company, or its sale, decided amicably by the partners or by the sole individual entrepreneur, following the company's economic difficulties, may give rise to unemployment benefits.

Taxation

Your benefits are not subject to income tax.
As far as your contributions are concerned, they are considered as an extra salary when your company decides to cover your GSC contributions. These contributions are, therefore, subject to social charges and are not deductible from your taxable income. For the company, being considered as an expense, they are therefore deductible from the tax result of your company.