Directors & Officers Liability Insurance
Protect Your Board Members with Directors and Officers Insurance
Western Financial Group is an award-winning brokerage. Our business insurance experts understand that the board of directors of for-profit or non-profit businesses need protection from claims of negligence in their duties.
Our insurance expertise will benefit your business
We are skilled insurance shoppers. We work with Canada’s leading insurance partners to get you directors and officers insurance at the right value to protect your business.
Why you need directors and officers insurance
You need directors and officers liability insurance to protect your business’s board of directors from claims of negligence. Individuals serving on your board of directors, whether your business is a not-for profit, for profit, public, or private entity can be sued for the actions of the companies they serve.
What directors and officers insurance typically covers
- Misleading statements, reporting issues, inaccurate disclosure
- Negligent acts and allegations of misrepresentation
- Breach of legal or fiduciary duties
- Decisions that result in adverse financial consequences for shareholders
- Wrongful dismissal and employee discrimination claims
- Failure to adhere to federal and provincial laws and regulations
What directors and officers insurance does not cover
- Criminal or fraudulent acts
- Intentional non-compliance
- Fines and penalties
- Property damage
- Bodily injury
Directors and officers insurance also helps provides financial coverage for legal expenses to help defend a board member against claims.
Here’s how directors and officers insurance can help you:
A member of your board of directors has mismanaged your company’s charitable fund. That person is named in a lawsuit for breach of fiduciary duties. Your directors and officers liability insurance will help cover the legal expenses.
How much does directors and officers insurance cost?
The following are typically considering when determining the cost:
- Your organization type and size
- Number of employees
- Any past claims
- Annual and projected revenue
Why choose Western?
We’ll get you directors and officers liability insurance that’s right for your business. It’s easy, fast, and customized. Get an online quote, text, email, or phone call. Choose what works for you.
February 20, 2024
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