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Business Insurance • Ontario
Corporate decisions carry personal financial risks. D&O liability insurance protects the personal assets of your directors, officers and board members if they are sued for alleged wrongful acts, errors or omissions while managing the company. A standard Commercial General Liability (CGL) policy does not cover these executive-level risks.
Jasen Ericksen
Partner, Commercial Account Executive
President of the Ottawa Insurance Brokers Association
Over a decade of specialized experience in commercial risks, real estate and builder’s risk.
View full broker profileExecutive indemnity
Lawsuits against executives can come from shareholders, employees, competitors or government regulators. A robust policy covers legal defence costs, settlements and judgments arising from:
Allegations of improper capital allocation, investment losses, insolvency fallout or breach of fiscal stewardship made by creditors or shareholders.
Legal defence and settlements
Statutory non-compliance under provincial or federal frameworks, such as unpaid corporate source deductions, environmental orders or governance breaches.
Statutory officer protection
Claims brought by minority investors or partners regarding financial disclosures, mergers and acquisitions, or misstatement of corporate performance.
Securities and valuation defence
Executive-level oversight claims regarding wrongful termination, discrimination, constructive dismissal or retaliation.
EPLI policy endorsements
Critical governance advisory
A common misconception is that a standard Commercial General Liability (CGL) policy protects senior leadership. It does not. CGL covers bodily injury and property damage. When directors are sued for management decisions, a CGL policy does not respond.
Limited scope
Third-party slip, trip and bodily injuries on premises
Physical damage to leased office or warehouse space
Excludes: shareholder lawsuits and breach of fiduciary duties
Excludes: statutory officer liability for CRA taxes or employee wages
Leaves exposed: personal bank accounts, family homes and executive assets
Executive protection
Legal defence: defence costs for covered claims, subject to policy terms
Personal asset protection: helps safeguard executives’ personal assets
Side A, B and C cover: direct director protection plus corporate reimbursement
Independent board protection: helps attract qualified directors and advisors
Leadership risk spectrum
Regardless of company size, personal asset protection is critical for leadership. This coverage is essential for:
Operational leadership
Daily strategic decisions and signing authority expose corporate officers to personal lawsuits under the Canada Business Corporations Act (CBCA) and the Ontario Business Corporations Act (OBCA).
Includes unpaid employee wage exposure and statutory source deduction liabilities.
Governance and oversight
Qualified directors often ask for evidence of D&O coverage, including Side A protection, before joining a board, so their personal assets are not exposed to company lawsuits or insolvency claims.
Protects independent directors if the corporation cannot indemnify them.
Growth ventures and enterprise
Venture capital and private equity investors often require D&O coverage to be in place before closing an investment round.
Commonly requested in seed and Series A/B term sheets.
Institutional specialization
Private companies need protection against shareholder and competitor lawsuits, while charities and associations face unique regulatory risks and donor scrutiny. If you serve on a charity or non-profit board, our non-profit insurance solutions help keep your volunteer board protected.
For-profit corporations
Focuses on investor returns, commercial disputes, debt covenants and trade secret claims, and can include Side C entity securities coverage.
Request a corporate D&O quoteRegistered charities and associations
Protects volunteer board members who donate their time and should not have to risk their personal assets for an unpaid community board seat.
View non-profit and association solutionsIndependent Ottawa brokerage
As an independent broker, Scrivens works for you, not the insurance company. We compare commercial insurers to find strong D&O policy wording at competitive terms.
Jasen Ericksen
Partner, Commercial Account Executive
Direct: 613-782-1162jericksen@scrivens.ca270 MacLaren Street, Ottawa, ON K2P 0M3
View full broker profileTell us a little about your organization and an accredited commercial broker will contact you to review your governance and coverage needs.
Confidential and non-binding.
