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I was pleased to be recently quoted in the covering story in the January 2015 issue of “Canadian Insurance”, however, the key message should be alarming for Canadian executives and directors. Recent adjudication by the courts relating to pollution clean-up costs at the now bankrupt Northstar Aerospace has left 13 executives and directors personally liable for $4.75MM, all stemming from a violation of environmental legislation. Equally alarming is that their D&O insurance appears not to have protected them. To senior level corporate people in Canada- you should read about this case, irrespective of the industry you serve in. Your key takeaway for your particular company and industry- understand your key operating risks and ensure that you are operating well within your various regulatory responsibilities.

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