Financial Lines
Expert solutions for executive risk
Executives operate in a climate with heightened stakeholder expectations and increasing accountability. Business decisions and actions face scrutiny from customers, investors, employees, and regulatory bodies.
Comprehensive Management Liability insurance can provide essential financial protection for organizations and their leadership from the risks of legal action.
Management Liability solutions
Comprehensive coverage that changes with the times
We offer flexible options for both private and publicly traded companies, including stand-alone or modular coverage for Directors & Officers Liability, Employment Practices Liability, and Fiduciary/Pension Trust Liability. Large corporate and commercial clients can also choose between shared or separate aggregate limit options.
Key coverages include:
- broad coverage for commercial customers on a primary and excess basis
- excess capabilities for financial institutions
- per line maximum capacity of $10M
- Emergency Defence Cost coverage
- full severability for the insured persons regarding wrongful acts and application representations.
Directors and Officers Liability (D&O)
D&O insurance can protect individuals from personal losses when lawsuits are filed against them from actions taken in their roles as directors or officers of an organization. It can also cover legal and other costs the organization may face because of a lawsuit.
Key coverages include:
- Canadian Pollution claims
- Employed Lawyer coverage
- built-in non-entity Employment Practices Liability coverage
- Pre-claim Inquiry coverage
- automatic 6-year Discovery Period for former executives if the insured doesn’t exercise its right to a Discovery Period.
Employment Practices Liability (EPL)
EPL insurance helps protect employers from financial losses due to employee claims resulting from various employment practices violations. These can include unfair dismissal or discrimination on grounds of sex, race, disability, religion, beliefs, or sexual orientation. The policy can cover the cost of defence, awards, settlements, and legal representation
Key coverages include:
- EPL and Third Party EPL Violations coverage
- Loss includes:
- Termination Loss Differential
- Defence Cost coverage for many excluded matters such as fines, taxes, and benefits
- punitive, exemplary, aggravated, and multiple damages, where insurable.
Fiduciary Liability Insurance / Pension Trust Liability (PTL)
PTL insurance can protect your fiduciaries, employee benefit plans, the company, and leadership from fiduciary mismanagement claims, and can also work to indemnify the insureds in case of alleged wrongful denial, improper changes in benefits, and errors or omissions in the administration of plans.
Key coverages include:
- broad, expansive coverage including acts in a Settlor Capacity
- coverage for Voluntary Compliance Loss.
It takes Aviva
- Aviva’s financial strength rating of ‘AA-’ by Standard & Poor’s demonstrates our strong standing within the industry and our long-term commitment to our clients and brokers.
- Our tailor-made, client-centered approach throughout the entire claims process ensures that GCS clients and brokers get the right support from the right people, every step of the way.
- Aviva’s industry leading Defensible Claims philosophy aims to support, protect, and defend our clients.
- Our client relationship managers have a deep understanding of your business to provide focused solutions, services, and insights.
- Our technical underwriters have expertise in tailored deal structures and provide innovative, account led, insurance solutions.
Learn more about Aviva Financial Lines coverage
Reach out to your broker or contact us at gcs.ca@aviva.com
Aviva and the Aviva logo are trademarks of Aviva plc. and are used under license by Aviva Canada Inc. and its subsidiary companies. For exact terms, definitions, limitations, and extensions, please refer to the policy. Policies provided by Aviva Financial Lines coverage are underwritten by Aviva Insurance Company of Canada. Risk Management and Claims services are provided by Aviva Canada Inc., and a network of external partners.