The prestige and honour that comes with being a Director and/or an Officer of a Board is wonderful. It also comes with unforeseen exposures. Whether for a non-profit organization or a for profit business, it is the responsibility of the director or officer to have a full understanding of the impact and risks of that position.
Based on that understanding; take proper action.
Directors & Officers, their families and or their heirs can be held liable for such things as:
- Wrongful dismissal
- Sexual harassment
- Patent infringement
- Misrepresentation of facts
- Uninsured losses
Ignorance of the law and requirements does not lift the burden. Qualified Risk Management is the only way to reduce your exposures to loss and enhance the opportunities to be more successful. The team at Paramount Insurance is poised to provide the right advice to help directors and officers be more effective and be assured that they are properly advised, so they too can make the right decisions.