Directors’ and Officers’ (D&O) liability insurance provides your executives personal liability and financial loss protection from wrongful acts committed—or allegedly committed—in their capacity as corporate officers.
Aon’s Financial Services Group (FSG) will help you design and procure a Directors’ and Officers’ liability insurance policy that fits with your business, by identifying your corporate and personal exposures to liability. We then create a program that incorporates risk mitigation recommendations as well as the broadest D&O insurance coverage available.
Although your company may be legally permitted to cover personal liability costs resulting from an executive’s activities, indemnification may not apply to every situation. In some cases, the financial liability is the sole responsibility of that executive. Directors’ and Officers’ liability insurance fills these gaps, protecting personal assets.
For nearly 20 years, Aon has championed the progression of Directors’ and Officers’ liability insurance. In fact, Aon professionals first developed many D&O products that are now industry standards. In Canada we place in excess of $250 million in Executive Liability premium each year, with D&O premium representing more than 25% of the total estimated D&O premium placed in Canada.
Launched in 2006, LARP is committed to provide consulting services on Executive Risk product development as well as claims advocacy and research on current business and legal trends affecting trustees, directors and officers.