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It only takes a moment for any company to start trending on social media. One negative hashtag has the potential to seriously damage a corporation’s reputation. Worse still, if the actions of your directors and officers are called into question, your business could suddenly face a costly legal battle. If you need personal liability coverage for your board, we can connect you with an instant D&O insurance quote from one of Canada’s top P&C insurers.

Related Matters: Duty of Care: A Directors Responsibilities Explained

Liberty International Underwriters, a division of Liberty Mutual Group, provides directors and officers insurance coverage for all industry sectors that is custom-fit to help preserve and protect your bottom line over the long term. Whether your organization is a large multinational or a small private company, Liberty specialists are known for their foresight, creativity, deep technical knowledge and disciplined risk analysis.

Instant D&O Insurance Quote – Liberty Specialists Balance The Art & Science Of Managing Risk

Unlike commercial general liability insurance (CGL) which only covers property damage and bodily injury, directors and officers insurance is designed to cover a “wrongful act,” such as an actual or alleged error, omission, misleading statement, neglect or breach of duty.

Liberty builds professional and management liability coverage that responds to even the most complex legal situations such as misrepresentation. A recent real-world claims example demonstrates just how their directors insurance responded to risk and delivered more value.

“During an acquisition, allegations were brought against the directors of a private company on the basis of misrepresentation and breach of duty of good faith. The purchaser alleged the insureds’ financial statements contained inaccurate, misleading and incomplete descriptions of related party transactions. Coverage was provided for the insured individuals with a total of $330,000 paid by Liberty. Matters were eventually settled with a $200,000 indemnity contribution in addition to $130,000 in incurred defence costs.”1

Liberty D&O Insurance – Get Your Directors ALIGNED With The Best Protection

Because a director’s personal liability risk is not covered under an individual’s personal insurance policy, it can be a challenge to recruit, retain and protect your boardroom talent. Adding another layer of complexity is the fact that indemnification provisions are typically included in a corporation’s charter and/or bylaws.

Small to mid-size private companies often do not have the financial resources to fund the indemnity provisions, making the bylaws hollow. In the event of a covered loss, Liberty directors and officers insurance can provide an extra layer of security.

The cost to defend individual directors and officers is substantial as are the potential penalties that can impact their personal assets. We can help you get an instant D&O insurance quote from Liberty and connect you with coverage that may include:

  • Defense costs and indemnity coverage to the entity listed on the policy declarations
  • Coverage for past, present and future directors and officers of the company
  • Reimbursement to the organization for a contractual obligation to indemnify directors and officers who serve on the board

To get an instant D&O insurance quote, talk to one of our advocates today. We can help you evaluate your risks and select liability coverage that will respond in the event of a directors and officers insurance claim.

ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.

Source: 1 Liberty D&O Liability, Liberty Specialty Casualty Department

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