Directors & Officers Liability Insurance

How It Use To Work
 
CLBC has provided Microboards with Directors and Officers (D&O) liability insurance and Employment Practices liability (EPL) insurance coverage under the Master Insurance Plan (MIP) attached to their contracts.
 
On January 1, 2019, the insurance coverage that comes with CLBC contracts was switched from the MIP to the new Social Services Group Liability Program (SSGLP), which no longer contains coverage for D&O liability or EPL. The MIP will remain in effect for existing contracts until their renewal date, with the last contracts ending December 31, 2020.
 
Types of Coverage
 
Directors and Officers (D&O) Liability Insurance
D&O liability coverage is for all defence costs and damages (awards and settlements) that are incurred from wrongful act allegations and lawsuits brought against the Microboard’s directors.
 
Employment Practices Liability (EPL) Insurance
EPL provides employers coverage against employment related lawsuits such as wrongful dismissal, breach of contract, harassment, and discrimination.
 
How It Works Now
 
As existing contracts renew, and for brand new Microboards, D&O liability and EPL will now be the responsibility of the Microboard to obtain to ensure that the Microboard and its Directors are protected.
 
For new Microboards signing CLBC contracts, and existing Microboards that are coming up on the renewal of your MIP (you should have received a letter stating the end date of your current coverage), you will now need to approach CLBC with a quote for your D&O liability and EPL coverage so that this cost can be added into the budget for the Microboard.
 
CLBC will cover up to $750 per contract for this coverage, and up to a maximum of $2million of liability. If your quote is above that threshold you will need to find the extra funding in your existing administrative budget.
 
When looking for D&O and EPL coverage for your Microboard it is important that you:
  • Ensure the insurance provider you select understands you need coverage for a single society, and that you do not fall under a group plan.
  • You also need to ensure that your provider is licensed to provide insurance in Canada.
If you have any questions or need further assistance please contact your Vela facilitator who will be happy to help.
 
Liability Insurance Provider Options:
 
We have partnered with BMS Group and they have become familiar with Microboards to help streamline the application process.
 
 
Before you apply, here is some important information to help the process:
 
1. Policies can only be put in place up to 45 days in advance of the requested start date.
2. Policies cannot be backdated.
3. Policies are for a one year period only.
4. The policy premium must be paid all at once - instalments are not available.
 
If you have any questions please contact: 
 
Alison O’Rourke
Director
BMS Canada Risk Services Ltd.
Phone: 1.613.321.0150
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
 
You are welcome to use a different insurance group if you choose. Here a a few other recommendations (but not an exclusive list):
 
  1. Volunteer Canada’s “Under Our Wing”
  2. InsureBC
  3. Johnston Meier
  4. Trisura
  5. Victor