Directors and Officers Liability
Protect your company and its officers from civil liability for which they could be held responsible due to their functions in the company.
There are several main components: general management, finance, benefits management and employment practice.
Examples of claims include:
- A new salesperson is hired and solicits his former customers despite a non-solicitation clause. The former employer sues the company as well as the former employee, the insurer will defend the company but will not defend the employee.
- The company has financial difficulties and subsequently goes bankrupt. However, due to the financial difficulties, the company has not paid DAS and wages for several months. The result will be that the directors and officers will be personally liable for the payment of the unpaid wages and DAS.
- The company dismisses an employee and the employee files an employment standards complaint for wrongful dismissal. If you have practical employment protection, the insurer will defend you and may pay punitive damages to the employee if the CNESST convicts you.