Protect Your Leadership Team with Directors & Officers Insurance
Oegema, Nicholson & Associates Ottawa understands the complexities of running your own business. With reliable D&O insurance, you can give your leaders the confidence to serve without fear of personal financial loss.
Discover Our All
Insurance Services
Personal Insurance
Commercial Insurance
Farm Insurance
Directors & Officers (D&O) Insurance
D&O insurance protects the top members of your company from paying legal costs when defending allegations of wrongdoing.
Our brokerage team understands the complexities of running your own business and will work with you to design coverage to protect your most valuable assets.
What Does D&O Insurance Cover?
Directors & Officers (D&O) Insurance is a special type of business insurance that protects the personal assets of company directors and officers should they be sued for wrongful acts while managing the company.
For example, if a board member, officer, or executive is accused of making a bad decision which leads to legal trouble, financial loss, or reputational loss, D&O insurance helps protect those individuals so that they are not paying out of pocket for legal defence costs, settlements, and damages.
D&O is especially recommended for corporations, startups, and no-profits, where the directors may be exposed to lawsuits from employees, shareholders, creditors and competitors.
How Does Directors & Officers Insurance Work?
D&O insurance can step in to cover legal defence fees, settlements, or judgements if a board member, director, or executive is involved in a legal case or if the individual is found liable.
Even though the individual was acting through a corporation, legal cases can extend to personal assets, such as finances, property, and spouse assets. Therefore, D&O is an added lifeline, to protect the individual against loss of assets. Even if the company goes bankrupt, D&O protections can still apply to the insured director or officer.
Common Sources of Liability for Directors and Officers
While liability claims can vary based on the industry, there are some common sources of liability that impact directors and officers. These common sources include but are not limited to:
Wrongful dismissal
Employees can sue businesses, directors, and officers directly if they believe they were terminated unfairly or without proper cause.
Breach of employment contract
Claims of employment contract breach may arise if employees feel that the terms of their employee agreement, such as pay, benefits or responsibilities, were not honoured.
Breach of Fiduciary Duty
Directors are legally required to act in the best interest of the company. However, if a stakeholder believes the director to be acting unethically or with negligence, they may be held personally accountable.
Intellectual Property Infringement
Competitors can take legal action if they believe the director approved or was involved in the use of proprietary systems, logos, or designs without permission.
Shareholder Disputes
Shareholders can sue if they believe that the value of investments is threatened.
How D&O Insurance Supports Your Business
D&O insurance can play a key role in attracting, and retaining, qualified talent to the top leadership positions in your organization, especially in the nonprofit sector.
While your business may hold physical and financial assets, your most valuable assets are the people on your team. By offering D&O insurance, your organization will look like a desirable, incredible place to work.
Trust Oegema, Nicholson & Associates for D&O Insurance
D&O insurance allows everyone involved in your business to be more confident knowing the organization has protections in place for its leadership, reinforcing trust in the company’s governance and long-term stability.
With Oegema, Nicholson & Associates you can have peace of mind knowing that your company’s top executives are protected for the long haul.
What Our Clients Are Saying
Real stories from people who trust
Oegema, Nicholson & Associates Insurance
“One call to Oegema, Nicholson & Associates is all it took. After our basement flooded, within a day or two they had a crew cleaning everything up, taking down the drywall and itemizing everything to be cleaned, thrown out or restored. They had everything in place for us in a timely manner and were extremely patient with me as they talked me through the process and waited for me to make decisions.”
Jennifer Parks, Stittsville, Ontario
“I’ve been dealing with ONA for over 20 years with my personal insurance, as well as our commercial insurance, and I know I can rely on them for great customer service, and prompt responses. I feel confident not only referring them to my employees, but to our customers as well.”
Charlene Brunet, Butler Group of Company
Service Areas
Insuring Individuals and Businesses in Ottawa and Beyond
Insurance Brokers in Ottawa
- Phone
Insurance Brokers in Manotick
- Phone
Insurance Brokers in Almonte
- Phone
Insurance Brokers in Russell
- Phone
Insurance Brokers in Orleans
- Phone
Contact Us
