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Directors & Officers Liability |
Introduction |
Directors and Officers Liability Insurance provides the Insured with coverage for claims made as a result of the Insured Person's wrongful acts including any negligent acts, errors or omissions committed in their insured capacity as a Director or Officer or any other matter claimed against them solely by reason of their serving in such insured capacity.
Our program offers D&O cover for a wide range of business risks: - Non-profit organizations, including registered charities, foundations, associations, social welfare and civic improvement organizations, religious, sports and recreation, grant making, fund raising, development and housing, arts and culture, education and research, hospitals, universities and colleges and any other organization established for any other purpose except profit.
- Local and Provincial Union Chapters.
- Privately owned companies based in Canada with revenues under
CDN$ 5 Billion.
- Canadian publicly traded companies and income trusts with total market capitalization under CDN$ 5 Billion.
- Canadian dual listed companies with U.S. SEC exposure where the U.S. Market float is no more than 25% of total market capitalization subject to maximums for primary and excess limits.
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Coverage Features
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The following is only a partial list of the many features: - Primary or excess covers
- Fast quotes and competitive terms
- Broad claims-made wording
- Pay on behalf wording and advancement of defence costs
- $15,000,000 in-house limit
- World-wide territory
- Employees as co-defendants
- Broad definition of subsidiary
- Priority of payments provision
- Employment practices coverage
- Defence costs for pollution claims
- Split deductibles for U.S. and non-U.S. claims
- Bilateral, pre-set extended reporting period
- Coverage for spouses and estates
- No-charge extended reporting period for retired directors and officers
- Full severability of exclusions and non-rescindable protection
- Coverage for non-profit entity, trustees, employees, volunteers, committee members, faculty and staff
- Coverage for Union Shop Stewards, collective bargaining and personal injury
- Punitive damages where insurable
- Blanket outside directorship coverage for non-profits and Canadian for-profit organizations
- We'll accept the applications of other markets for quote purposes but binding of coverage is subject to receipt and approval of a fully completed and signed Elliott Special Risks LP application
- Underwritten on behalf of "A" rated capacity at Lloyds.
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Contact Us |
| For more information on our program, including new inquiries, renewal and changes to in-force business, please contact: |
| Tom Warden in our Toronto office twarden@elliottsr.com |
| Lynda Houle in our Montreal office lhoule@elliottsr.com |
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Our D & O program is available through the local insurance broker of your choice. We can suggest a suitable local insurance broker if required.
The information in this web site is intended to be general in nature and should not be construed as specific recommendations, nor as a substitute for the advice of a professional insurance broker who is familiar with a client's particular exposures or circumstances. The coverage summary should not be construed as an insurance policy or the interpretation of an insurance policy. |
Market Security - Directors & Officers Liability Program
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| Carrier |
Interest |
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| Syndicate 3000 at Lloyd's |
100% |
Rated A- (Excellent) by A.M.Best
Rated A (Strong) by Standard & Poor's
As a Lloyd's Syndicate, Markel Syndicate 3000 also attracts the ratings of the Lloyd's market as a whole and its policyholders benefit from the additional security of the Lloyd's central fund.
The ratings applicable to the Lloyd's market were as follows:
A.M. Best: A (Excellent)
Standard & Poor's: A (Strong)
More information on this carrier is available at www.markelintl.com
More information on Lloyd's of London is available at www.lloyds.com |
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| Total | 100% |
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To Report A Loss To This Program
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Because of the highly specialized nature of our coverage, please report any claims, actions or suits directly:
email: claims@elliottsr.com
Elliott Special Risks LP 130 Adelaide Street West, Suite 810 Toronto, ON M5H 3PS Attn: Claims Department
Tel: (416) 601-1133 x2275 Toll-free: (800) 223-8858 x2275 Fax: (416) 601-1150* * Please send all faxes to the attention of the Claims Department
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The reporting condition of the policy requires that you report to the insurer any incident that might give rise to a claim, even though no such claim has yet been received.
Liability claims for this class of business may often follow months or years after the event itself. Failure to report an incident promptly may jeopardize the insurer's investigation and defence of a subsequent legal action. To avoid the risk that individual losses may be denied as a result of late reporting, we would encourage you to report all such incidents promptly.
Please note that these policies are written on a claims-made form. A claims-made policy contains certain restrictions that limit the reporting of losses after the policy has expired.
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Download Applications
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© 2000-2008 Elliott Special Risks LP. All Rights Reserved.
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