Canada directors and officers insurance

Public, private or non-profit – if you make decisions, you are exposed.

You don’t have to have shareholders to be exposed. Claims can come from any stakeholder – customers, partners, vendors, employees, shareholders and creditors. And a claim against your organization’s leadership can mean costly civil, criminal, judicial, administrative, regulatory or arbitration proceedings. Worse still, judgements and settlements can reach into your personal assets.

Your D&O insurance policy should cover claims from multiple potential plaintiffs, including:

  • Government and Regulators
    • Securities Act violations
    • Statutory Tax liabilities
    • Environmental Safety violations
    • Misappropriation of grant funds
  • Employees
    • Wrongful termination
    • Sexual harassment and other forms of harmful behavior
    • Failure to promote
    • Discrimination
  • Competitors and Customers
    • Fraudulent breach of contract
    • Intellectual property infringement
    • Unfair interference
    • Failure to correct harmful behavior
  • Shareholder and Creditors
    • Misrepresentation
    • Breach of fiduciary duty
    • Oppressive conduct
  • Suppliers & Third-parties
    • Misrepresentation of business opportunities

Typical exclusions

D&O policies often use very broad exclusion language. Talk to HUB to ensure that all of your business activities are covered and get an understanding of the typical exclusions including:

  • Bodily injury and/or property damage, pollution, violation of ERISA regulations, actions brought by one insured versus another, and failure to effect or maintain insurance intentional, dishonest or fraudulent acts, the willful violation of a statute rule or law or criminal acts, or any gaining of personal profit or advantage to which the director or officer is not entitled.
  • Anti-trust and unfair trade claims.
  • Claims against former directors or officers.
Contact a HUB broker to get started.

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