Directors and Officers Liability Insurance
Confident leadership starts with secure protection
Empower leaders who serve on public, private, or non-profit boards with the confidence to make and navigate tough decisions, all while safeguarding their personal assets.
What is Directors and Officers (D&O) Liability Insurance?
D&O protects leadership from personal liability for the decisions they make on behalf of the organization they serve.
Types of coverage
D&O can cover the costs for indemnification, losses, or legal defense while providing protection for directors and officers of both for-profit and non-profit corporations, whether public or private.
Who we cover
From publicly traded companies to community boards, D&O insurance can provide essential protection to:
- Church and private school boards
- Condominium boards
- Corporate/publicly traded company boards
- Non-profit, volunteer, and community boards
- Private company boards
Protect the leaders driving your success.
Empower your directors and officers to lead with confidence, knowing their decisions are backed by protection.
Frequently asked questions
Find answers to common questions about directors and officers liability insurance.
How does a D&O policy work?
A D&O policy has three agreements of insurance:
- Coverage for the business
- Coverage for directors and officers indemnified by the corporation bylaws
- Coverage for directors and officers not indemnified by corporate bylaws
There are some conditions for legal expenses and rules for claim reporting. Always connect with a broker to discuss specific policy details.
What are my legal responsibilities as a corporate director or officer?
Under law, directors and officers must:
- Act in good faith and in the best interest of the society
- Act with a duty of care as a reasonably prudent person
- Perform duties in accordance with applicable statutes and your own charter
Is D&O insurance the same as professional liability insurance?
D&O is a type of professional liability. It is specifically designed to protect directors and officers from claims related to alleged acts of harm, negligence, or omissions.
Under which statutes can directors or officers be held liable?
Directors and officers can be held liable under federal and provincial statutes, including:
- Bankruptcy Act
- Competitions Act
- Discrimination Act
- Employment Standards Act
- Income Tax Act
- Pension Benefits Act
- Unemployment Act
Have more questions?
Contact us for more information.