Providing Directors and Officers insurance protects the people who choose to contribute their time to your business, while allowing you to continue to attract high quality members. More often individuals who serve on a board are being held accountable for the actions or direction of the businesses they oversee. In case of a lawsuit, not only the business is at risk. Board members’ personal assets may be in jeopardy (house, cars, or other assets). Give back to the Calgary community while covering yourself from any liabilities.
Scenario 1: Your company acquires talent from another business and starts to promote a similar product. The business sues you for potentially stealing their intellectual property rights.
Scenario 2: You sit on a board of a school and collectively make a decision that a group of parents disagree with. In a legal case, your personal assets could be at risk.
Speak with one of our award-winning insurance brokers about how to provide personal coverage for the leaders in your organization. Sharp Insurance is equipped with the knowledge and expertise to ensure you can carry out your important contributions while maintaining the safety of your personal and professional assets.
Liabilities of Directors and Officers are numerous, no matter if you are participating in an agency, on a board, committee, commission or task force. You could have the following risk scenarios:
Various shareholder actions
Decisions exceeding the authority granted to the board member
Reporting erroneous material
Employment practices & HR issues
Failure to comply with regulations or laws
Inaccurate disclosure (such as profitability, for instance)
What is not covered?
Criminal, fraudulent, or intentional non-compliant acts.
Talk to one of our brokers today to discuss your business or voluntary efforts. We will provide you with the best coverage at great prices so you can continue to do what you do best on a daily basis.