Professional Service Firms
Commercial Insurance & Risk Management
Directors Global does an outstanding job understanding our risks and arranging the insurances we require to manage our business.
K. Gauci- Managing Principal, Optimus SBR
Enterprise Risk Management services from Directors Global are key to our company’s achievement of our annual strategic plan.
D. Peneycad, COO, Grant Thornton LLP
Two of Canada’s highest performing professional service firms rely on Directors Global Insurance Brokers Ltd. to place critical commercial insurances, and/or to help manage the enterprise wide risk management process
One of Canada’s largest accounting and professional services firms- fastest growth rate amongst all Canadian Peers. A “2016 Best Workplaces” recipient, and “2016 ACE Awards” recipient for achievement in Customer Service.
Optimus SBR -The “Fastest-Growing Professional Services Company in Canada”, according to the PROFIT 500 2016, and, an “AON 2017 Best Employer“.
Optimus SBR & Grant Thornton LLP: highly respected by a loyal and rapidly growing client base; strong focus on managing risks to achieve strategic objectives
Some key risks facing Professional Services firms:
- Directors & Officers liability risks: Oppression & Unfairly Prejudicial Conduct with partners; unpaid wages or taxes; breach of contract; LP partners acting in GP capacity; failure to carry insurance; punitive damages
- Employment practices, including: sexual or workplace harassment; workplace violence; wrongful termination
- Fiduciary liability, including negligence or mismanagement of pension funds and benefits plans
- Employers liability, not insured under WSIB
- Errors & Omissions, audit failure, improper advice
- Cyber liability, theft and/or destruction of client and corporate data including personal data
- Reputation risk from errors, cyber risk, theft of trade secrets
- Extra Expense from fire, flood, sprinkler release- cost to carry on business at existing or alternative premises
Some common EnterpriseWide Risk Management mistakes
- Failure to follow best practices, and not adopting an accepted ERM standard such as ISO 31000 or COSO
- Failure to formally identify, assess and prioritize key enterprise risks
- Lack of clear roles for board & management in risk oversight
- Improper or lacking controls on key risks, and improper allocation of resources thereto
Directors Global can audit your program and rate your management of risk. Contact Us Now!