Public Company Insurance – What it is & why you need it
Directors and officers insurance specifically covers a “wrongful act.” For example, an actual or alleged error, omission, misleading statement, neglect or breach of duty.
Every Board Decision Can Put Your Business At Risk
Each decision directors and officers make can be judged. Moreover, Canadian public companies and the individuals who run them face unprecedented levels of responsibility and risks of litigation from shareholders, creditors, employees, regulatory authorities and other sources.
Protect Your Public Company With Directors and Officers Insurance
With an ALIGNED public company directors and officers insurance policy, you can help safeguard against claims that could lead to substantial legal costs and penalties as well as potentially impact personal assets.
Here are some real Canadian examples:
The following situations resulted in allegations of wrongful acts and were covered as claims by the typical public company directors insurance policy in Canada.
- Insider Trading & Tipping
- Criminal Code
- Insider Reporting
- Related Party Transactions
- Prospectus Disclosure
- Continuous Disclosure
- Merger, Acquisitions & Take-overs
- Statutory Secondary Market Liability – Bill 198
ALIGNED Insurance is a premiere insurance brokerage, 100% Canadian owned and staffed by a team of business insurance experts. Therefore, we can handle the differing needs of Canada’s smallest and largest public companies. Directors’ and officers’ personal liability risks are not covered under any personal insurance policy. For this reason, you need to provide the best risk protection in order to attract and retain boardroom talent.
Your directors and officers insurance policy may include:
- Defence 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
Want to get a free quote started for your public company? Use this simple form.
Looking for more information about D&O insurance for your public company? Contact us today to speak with an Advocate. They can advise on a comprehensive risk management strategy and solutions for your directors and officers.
Related Posts:
- What To Look For In Directors Insurance For A Publicly Traded Company
- Public Company Directors Insurance
- What You Need To Know: D&O Insurance For Public Companies
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