Directors and Officers Liability for Financial Institutions

Who it's for

We cover your directors and other management employees across a wide variety of roles. Positions we insure:

• All types of past, present and future directors and officers
• Managerial and supervisory employees
• Employees who are co-defendants, including retired directors 
• Directors and other individuals who, at the company’s request, serve on an outside board
• The spouse, estate or legal representative of deceased directors
• Approved individuals performing controlled functions and those designated under the senior executive accountability regime
• The company, in the case of securities action claims

What it covers:

The policy covers executives for defence costs and legal liability arising from:

• Wrongful acts
• Errors and omissions
• Misstatement
• Negligence
• Breach of duty

Cover includes:

• Damages, judgments, expenses and defence costs
• Costs of legal representation for investigations
• Losses incurred within 30 days of management buyouts of a subsidiary
• Costs arising from extradition proceedings
• Cover for deprivation of assets of individuals
• Civil fines and penalties cover for individuals where insurable by law
• Tax contributions where the company has become insolvent and there is personal liability of an insured director