Directors & Officers Insurance

Who should get D&O coverage?
D&O Insurance is for claims based on Errors, Omission, misrepresentation, breach of duties on the part of individual directors and officers managing the clubs. (risks can be employment related, threat to personal assets and antitrust claims).

The D&O policy pays, on behalf of the Insured, all losses they are legally obligated to pay (up to the limit of coverage) for a claim against any Insured for a wrongful act during the policy period, and provides legal defense coverage if a claim arises from a management related situation. Coverage is extended to include any Insured’s who act as Directors, Officers, trustees, governors or any equivalent positions of any non-profit organization, provided there has been approval of such positions by the Company and includes advisory boards.

Why get D&O coverage?
For a “Wrongful Act” is defined as any breach of duty, neglect, error, misstatement, misleading statement, omission or other act wrongfully done or attempted by the Insured.

D&O and General Liability (CGL)are different policies. General Liability is based on claims from Third Parties for accidents, where D&O coverage indemnifies the directors, officers and trustees for defense costs and liability arising from claims made against them. Defence costs and expensive settlements and judgments may become a personal financial obligation of board members and officers.

As an Insured Cycling BC Club, must I take out D&O coverage? 
No – this policy is completely optional; however, we do strongly recommend this insurance to all our affiliated clubs

How does my Club apply for D&O coverage?
You must first affiliate your Club with Cycling BC as an Insured Club. (See the Club Affiliation package for full details on becoming an insured club).
Then download the forms and email Cycling BC with your intent to apply. These forms must be submitted directly to the insurance broker, Oasis Insurance, with full payment as per the address on the application form.

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