Directors and officers liability insurance is coverage that is payable to the directors and officers of a company, or to the organization itself as indemnification or reimbursement for losses and provides protection for the personal assets of the directors and officers.
For directors and officers liability insurance Ontario professionals can count on CCV Insurance. Our team will work closely with you to ensure you have the right type of liability protection. Those working in a professional capacity often need a higher level of liability insurance to protect against common risks including lawsuits filed against them. With the increasing number of claims against professionals, it is more important than ever to obtain the right directors and officers insurance Ontario companies and professionals need to have.
When it comes to directors and officers insurance, Ontario companies must select customized insurance that meets their individual needs. This type of insurance helps to protect corporations and non-profit organizations from claims made against them including claims of wrongful acts in regards to the performance of a director or officer in the company. The claims can be numerous and may not be legitimate. However, defending against these claims can be financially difficult. With the right directors and officers insurance policy, risks can be minimized.
These types of claims are typically made by shareholders, employees or clients. And allegations can range from mismanagement and fraud to non-compliance of local or federal law. Employment practices liability insurance can be purchased in connection with directors and officers liability to address a variety of other employee allegations, such as discrimination, sexual harassment, wrongful dismissal and retaliation.