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Consumer Notification
At AIG Canada, we are vigilant of any misrepresentation of our name and services. Please be advised that AIG does not offer insurance coverage for wire transfers or other types of electronic fund transfer methods.
Anyone who receives or has purchased an alleged AIG branded policy purporting to insure a wire transfer (or other types of electronic fund transfers), should contact local law enforcement and AIGCanadaOmbudsman@aig.com to report the matter.

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Public Directors and Officers Liability coverage offering extended coverage for investigations of individual insureds, global liberalization provisions and personal reputation protection.

Features & Benefits

  • Indemnification Uncertainty Eliminated - Early advancement of defence costs for individuals where the company fails to indemnify for any reason

  • Investigations Involving Individuals - Early and broad coverage including informal “inquiries” and targeted investigations

  • Severability - Reassures individuals that their coverage cannot be jeopardized by the behaviour of others

  • Settlement Control - Gives insured the ability to effect a settlement which is within the retention without the insurer’s consent

  • Foreign Jurisdictions - Ensures the most favourable terms and conditions from local AIG policies are applied to claims in foreign jurisdictions

  • Specialized Claims Support - In-house D&O claims unit dedicated to managing claims brought against organizations and their management

  • Coverage for Pre-Approved Public Relations Firms - Available to manage communications surrounding a covered crisis event

Coverage

  • Entity Coverage - Goes beyond Securities Claims to include:
    • Violations of Canadian environmental laws (provided an executive is a co-defendant) 
    • Cost of investigating derivative demands and actions (no retention, $250k sublimit) 
    • Costs of seeking dismissal of derivative suits (no sublimit) - Oppression Actions
       
  • Pollution Coverage - Individual and entity cover (provided an executive is a co-defendant) for loss (other than clean-up costs) arising from claims (including administrative or regulatory proceedings) alleging violation of Canadian environmental laws

  • Privacy Violation - Individuals covered for a violation of a person’s right of privacy in employment or securities claims; company covered in securities claims

  • Loss - Coverage much broader than defence costs and judgments or settlements, including:
    • Statutory liabilities- coverage not just for statutory taxes owing by Executives but for any unpaid non-indemnified statutory liabilities assessed against Executives in a “Statutory Claim”
    • Civil penalties assessed against individuals under foreign corrupt practices legislation
    • Costs incurred by individuals detained, imprisoned or extradited due to their business activities, even absent a claim 
    • Crisis firm costs for Executive to mitigate personal reputational damage of negative press ($100,000 per executive/$500,000 aggregate sublimit)
    • Costs incurred by CEO or CFO to facilitate repayment of compensation due to restatement under Sarbanes- Oxley Act
    • Costs of Executives to oppose enforcement attempts to seize personal assets or property ($50,000 per executive/$250,000 aggregate sublimit)
    • E-Discovery- first $25,000 incurred in Securities Claim subject to no retention