What Does Directors Liability Insurance Coverage Protect Against?
Click here for a directors liability insurance coverage quote
The Canadian business news is regularly, and sadly, filled with scandals, accusations, allegations against leaders, board members and employees of public, private & not for profit organizations. These unfortunate and seemingly constant examples of poor decision making, poor governance, lack of oversight, unethical behaviour etc. have focused the attention of regulators and legislators on the boards of directors and corporate officers of offending organizations. With increased regulation, constantly changing federal & provincial legislation and the rising frequency and severity of legal actions being brought against public, private and not for profits organizations makes knowing the answer to – What Does Directors Liability Insurance Coverage Protect Against?, more important than ever.
What Does Directors Liability Insurance Cover?
- Legal and defense costs
- Settlements and judgements
- Regulatory and criminal defence
Most Common Sources of Legal Action Against Directors & Officers
- Shareholders: securities class-action lawsuits, derivative suits or oppression remedies
- Employees: wrongful dismissals, discrimination, failure to promote
- Government entities
- Other directors or officers
Directors Liability Insurance Coverage Features
- Protects past, current and future directors and officers and their spouses, estates and heirs
- Coverage extends to subsidiaries
- Protects newly acquired or created entities
- An optional extension is available for reporting claims after the policy terminates
Every industry and sector is unique in the risks it faces. That’s why insurers that ALIGNED Insurance works with like The Guarantee and others offer specialized D&O policies dedicated to not-for-profits, and private and publicly traded companies.
For More Information & Answers To “What Does Directors Liability Insurance Coverage Protect Against?” Speak To An ALIGNED Insurance Advocate Today By Calling 1-866-287-0448!
Source: The Guarantee
|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.|