In a context where litigation is on the rise and damage awards are increasing, protecting yourself and your directors from allegations of negligence is critical. Fully 82% of lawsuits are initiated by former or current employees, competitors, customers, former owners, creditors, government agencies and regulatory authorities.
Consider the following:
- Company directors were held personally liable for unpaid wages, payroll deductions and sales taxes after their company had filed for bankruptcy.
- After being dismissed, an employee with considerable seniority sued various managers for libel for disseminating a company-wide memo outlining the circumstances of the dismissal.
- The principals of an insolvent company were sued by the suppliers to whom they had promised payment once they themselves got paid. Directors and officers (D&O) liability insurance
The kind of protection you can obtain includes:
- Directors and officers (D&O) liability insurance
- Coverage for outside directors
- Employment practices liability insurance
- Fiduciary liability insurance
- Professional services insurance
- Pollution liability coverage
- Punitive damages coverage
Contact a broker at J Gérard Fortin today to find out more about the products we have to offer.