Is designed specifically to protect your organization’s directors, officers and senior management team from personal liability arising from their actions or omissions while acting for your organization.
A lawsuit can be brought forward whether the allegation is actual or alleged – but regardless, it must be defended. Defence costs can be substantial, even if the case is won.
These are just a few of the risks to directors and officers, which liability insurance covers:
- Alleged excessive salaries, expenses and perks of officers
- Conflicts of Interest
- Political contributions
- Confidentiality issues
- Accusations of discrimination, harassment, bad faith actions
- Alleged coercion and misrepresentation
- Expulsion of dissident or delinquent members
- A lack of accurate financial records or timely reporting
This liability insurance:
- Protects current, past and future directors and officers, as well as their spouses, estates and heirs, if the policy was in force during the officer’s term of office.
- Covers subsidiaries
- Can include newly acquired or created entities (if you add these to the policy)
- Provides for legal and defence costs, damages, settlements and judgements
To find out more about insurance for directors and officers, contact us today.