Top-Rated D&O Insurance Liability Insurance for GTA, Toronto and Beyond
Legal risk comes at you from every direction when you’re a director or senior officer. It’s a minefield.
Do you have outside interests that might conflict with your responsibilities? What do you do to protect your visitors from harm? What’s your policy on storing confidential information? And how about accepting gifts, responding to whistle-blowers, making public statements and documenting your decision-making process?
All of these issues, and many, many more, demand not only an in-depth understanding of directors’ duties and responsibilities but also strong protection against the liability claims that sometimes flow from them.
That means a rock-solid Directors’ and Officers’ Liability insurance policy, or D&O Insurance as it’s usually called. This will protect organizations and directors against allegations and liability lawsuits relating to:
- Breach of legal duty
- Employment practices
- Errors of judgment, even if innocently made
- Failure to protect interests of shareholders
- Reporting errors
- Failure to disclose
- Antitrust or deceptive business practices
- Compliance failure
- Failure to disclose conflicts of interests
Where can you find the expertise to put that protection in place and to provide guidance on D&O risk management, as well as support in the event of a lawsuit?
You’ll find the solution to these challenges at MCR Insurance Brokers. For almost four decades we’ve been among the foremost Directors’ & Officers’ Liability insurance experts serving Toronto, Muskoka, Collingwood and beyond.
What Type of D&O Liability Protection Do You Need?
D&O insurance protection can vary immensely according to the needs of individual organizations, so you will need customized protection that takes full account of the risks you face and the way liability is interpreted according to the structure of your organization.
- For public companies, the greatest expense in dealing with an allegation is often defence costs.
While directors’ acts may be indemnified by company by-laws, that may not be the case with insolvency or claims of wrongdoing by a director. MCR’s Directors’ and Officers’ Insurance program can provide that protection.
- Although private firms aren’t as exposed as public corporations, they still face risks such as allegations of misrepresentation, conflicts of interest and other breaches of fiduciary duty. MCR’s D&O policy covers costs associated with these. It also protects spousal personal assets as well as a deceased director’s or officer’s estate.
- Directors’ and Officers’ Liability Insurance for non-profits is a solution to the limited resources that these organizations usually have to indemnify key people or to meet the costs of expensive litigation, settlements or damage awards.
This is critical since the personal assets, as well as those of the organizations, can be directly at risk.
Why You Need MCR for Your D&O Liability Insurance
Even in the best-run outfits, worries about allegations and lawsuits for directors and officers — and their financial consequences — risk distracting them from their key role of securing and growing their organizations.
Ensuring you have Directors’ & Officers’ Liability Insurance in place will enable the individuals who guide your organization and its strategy to focus on this critical need.
Lack of full protection is also a deterrent to recruiting best caliber individuals to your board. Having comprehensive D&O coverage in place will not only eliminate this risk but will also reassure them that you take their interests seriously.
As a private and independent insurance broker, MCR has both the experience and expertise to deliver the most effective coverage at highly competitive rates, backed by 24-hour support.
We offer help on risk mitigation, prompt and knowledgeable customer service, and outstanding technical expertise.
Why You Should Act Now
The liability risks for directors and officers is growing daily, while defence and settlement costs are rising exponentially. There’s no time to lose in getting the best D&O Liability Insurance in place.
Furthermore, a consultation with MCR’s experts will cost you nothing. Even if you already have Directors’ & Officers’ Insurance, we can review your coverage to ensure you’re properly protected.
Find out now why MCR is the best solution for your D&O Liability Insurance needs.