Plaintiffs in D&O claims are seeking significantly larger settlements, with one company recently agreeing to settle for a record-breaking $139 million. Plaintiff law firms have been more confident and aggressive, especially with companies with cross-border operating exposures, allowing them to successfully push for higher settlements.
While this trend is raising the stakes for directors and officers, the frequency of lawsuits is also on the rise. In fact, the number of securities class actions filed in Canada each year has more than doubled recently. Now is the time for you to ensure your clients have tailored coverage to mitigate their exposures to potentially devastating losses.
D&O Coverage can offer an additional layer of protection for nonprofit, private and public companies when managerial decisions are called into question.
Non Profit Directors and Officers (D&O)
The directors and officers of non-profit organizations (NPO) have a responsibility to oversee the activities of the organizations they serve and are required to act in the best interest of the organization, its employees, volunteers and their clients. Wrongful act allegations may be brought against a non profit organization, which can result in defense costs, settlements and judgments. In order to protect the organization’s mission and the board’s personal assets, Non-Profit D&O is essential. Board members may not realize they may be held personally liable for the actions of the organization, and board decisions which can place their personal assets in jeopardy. As a professional association, home owners association (HOA), charity or a social service organization, that is money better spent going toward your organizations mission.
With Non-Profit Directors & Officers (D&O) Insurance Coverage through Burns & Wilcox, your organization and their board members are protected from exposure resulting from lawsuits against their non-profit and the risks associated with managing a non-profit organization.
As a leader in wholesale insurance, Burns & Wilcox provides access to Non-Profit D&O Coverage with flexible limits to meet the needs of your client.
Private Company Directors and Officers (D&O)
Private companies often don’t have the deep pockets that make public companies a target for litigation. They also don’t have the same type of regulated responsibilities to their shareholders that public corporations do. That often leads to private companies underestimating the risk exposure of the company and the board of directors.
Burns & Wilcox can provide access to Private Company Coverage that includes D&O and Employment Practices coverage that will limit your clients’ exposure to the financial risk of running a business. Coupled with our extremely fast submission response time and low minimum premiums, Burns & Wilcox is one of the leading providers for wholesale insurance.
Public Company Directors and Officers (D&O)
Public companies are often perceived to have deep pockets that make them a target for litigation. They also have a very strict set of regulated responsibilities to their shareholders that holds management and the board of directors liable for the decisions they make while in charge.
Burns & Wilcox can provide access to Public Companies Coverage that includes D&O and Employment Practices coverage that will limit your clients’ exposure to the financial risks of running a company. Coupled with our extremely fast submission response time and low minimum premiums, Burns & Wilcox is one of the leading providers for wholesale insurance.
Coverage Details and Features
- Primary and Excess Liability limits available
- Director cannot be an officer, consultant, or employee of the organization
- Protects independent director’s personal assets
- Can provide coverage for single or multiple board positions
- Coverage extends to independent contractor’s spouse or partner
- Available throughout Canada (Except Quebec)
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.
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