BPC Director’s Risk Review

This report is completely independent of insurers, brokers and legal advisors as BPC neither sells insurance nor provides brokerage or legal services.

The risks that will be assessed by our review include:

• Does the company have the maximum permitted indemnities, which are the first tier of defence, before even considering insurance cover?
• Do Directors have appropriate D&O insurance protection comparable to similar Canadian organizations?
• Are the annual application processes structured to obtain cost effective coverage while also reducing the chance that the insurer will deny coverage?
• Have optional clauses and riders been properly considered to extend protection at reasonable cost?
• Are staff sufficiently familiar with the policy’s administrative requirements to meet these obligations, and are all needed records being kept?
• Are retiring directors and their estates protected?

BPC Director's Personal Liability Review

Features of the process

• A unique feature is that the Review is delivered ‘Online’ and the various stages are accessed via an email with a “click on” link back to the database. This allows us to offer this product at a very low cost as well as to accommodate the busy schedules of managers and Directors.
• The survey questions asked of staff and directors have embedded notes so participants become better informed of the significant risk issues in this area.
• There are four stages to the review:
1. Planning meeting with the Board and key managers.
2. Management Survey delivered on-line.
3. Director’s Survey.
4. Reporting to the Board with recommendations.