Directors’ & Officers’ face the risk of being held personally liable for the decisions they make in the course of managing the business, regardless of the size or type of company. You can face new and untested exposures to lawsuits by other shareholder, competitors, or other parties. Additionally, with the introduction of Bill 198 and the rapidly changing nature of performance standards, it is almost impossible to predict how the law will respond to certain situations.
Many different types of suits can be brought against Directors’ and Officers’ of a company, these include but are not limited to:
- Derivative Action, brought by shareholders on behalf of the corporation.
- Representative Action, brought by shareholders against the Directors’ & Officers’ on their own behalf.
- Third Party Action, brought by individuals outside of the Corporation such as officials, regulatory authorities, competitors or other parties.
The spectrum of allegations is broad and could include:
- Misleading representation
- Misstatement of financial condition or lack of good judgment
- Failure to act
- Failure to disclose
- Mismanagement of funds
- Breach of contracts
- Mergers and Acquisitions
- Antitrust violations
- Failure to remit unpaid wages and taxes
- Acts beyond granted authority
- Wrongful dismissal Discrimination
MYCOR Insurance Solutions can design a plan that offers protection against a vast spectrum of allegations including misleading representation, breach of contract, failure to act, wrongful dismissal, mergers and acquisitions. Regardless of your requirements, we offer customized insurance and risk management solutions to address your needs.
To find out more about our services, please call
1 866 286 9267