Why the D&O market will probably get harder
December 15, 2020 by Greg MeckbachData breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions…
How does directors’ and officers’ vicarious liability work with franchise corporations?
February 14, 2020 by Greg MeckbachIf your clients are directors and officers of a company that licences its brand to franchisees, can those clients and the owner of the brand be vicariously liable for alleged wrongdoings on the part of franchisees? It depends in large…
Failure to describe corruption risk cost this firm $30 million
December 18, 2018 Ian Bickis - THE CANADIAN PRESSTORONTO – Katanga Mining Ltd. will pay $30 million to the Ontario Securities Commission for misleading statements, its failure to properly disclose risks around operating in the Democratic Republic of Congo and its reliance on a controversial billionaire businessman. A…
Why this commercial line is unprofitable
November 27, 2018 by Greg MeckbachCommercial brokers could see fewer carriers offering directors and officers (D&O) liability in the future. That’s because “market consolidation is something that you might see on the carrier side,” said Ian Fraser, assistant vice president of technology, cyber and professional…
Why this insurer is ‘shrinking’ its D&O liability business
October 26, 2018 by Greg MeckbachLawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said…
The ‘wake-up call’ for brokers placing D&O liability
October 2, 2018 by Greg MeckbachA multi-million-dollar pollution clean-up order that spooked the Canadian insurance industry has some commercial brokers taking a good hard look at the exact wording of mid- to large-sized clients’ directors and officers (D&O) liability policies. The Ontario Ministry of the…
How commercial insurers are addressing this D&O coverage gap
September 21, 2018 by Greg MeckbachIf your corporate client goes under and occupies polluted land, what happens if individual directors are left on the hook to clean up environmental contamination? This is the subject of “long, complex discussions” that Aon Canada brokers are having with…
What to ask your D&O clients before a market correction
February 15, 2018 Greg Meckbach, Associate EditorThe latest stock market roller coaster ride should prompt brokers placing directors’ and officers’ liability to ask their clients about independent audits and internal controls. The week ending Feb. 9 saw a “a steep and broad-based selloff” in the stock…
Court shuts door on case that may have muddied the water on limitation periods
January 29, 2018 by Canadian UnderwriterDirectors’ and officers’ (D&O) insurers may breathe somewhat easier after a recent Supreme Court of Canada decision that appears to have put the final nail in the coffin of a shareholders’ class action lawsuit that carried the potential to stop…