Claims Handling

Claims Handling

1. Document all information related to incidents and report the incident to your insurer. Provide them with:

Key Point Directors’ and officers’ claims or potential claims must be reported to your insurance representative promptly.

• details of the incident; and
• information about steps that had been taken to avoid the incident.

2. There are very strict reporting requirements under Directors and Officers insurance policies. Contact your insurance representative immediately upon becoming aware of a situation that could potentially give rise to a claim.

3. Investigate and consider how future incidents may be prevented.

Additional Resources

• Priest, Margot. (1995). Directors' duties in Canada: Managing risk. North York, Ont.: CCH Canadian.