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2023 Directors’ & Officers’ Liability Trends

The Directors and Officers Liability (D&O) insurance market continues to soften for companies who can demonstrate strong corporate governance practices and financial flexibility in uncertain economic times. Review Navacord’s 2023 whitepaper to understand the D&O Liability trends for the year and their potential impact on your D&O insurance program.

Read Now: 2023 D&O Trends

If you have questions specific to your business or would like additional information, please reach out to your Iridium Risk advisor.

The team at Iridium is professional, approachable and knowledgeable. Prior to the sale of our business, insurance was managed by an internal risk management corporate group. Iridium was engaged to establish insurance coverage within a short period of time for the standalone business. Iridium was intimately involved in proposing solutions to mitigate risk and brought significant cost savings to our business. Iridium is a true risk partner for our business; providing education and training, expert contract review and risk assessments, along with a strong understanding of our company’s exposures and insurance coverage.

—Wes Morningstar
Chief Executive Officer and Director,
Canlin Energy Corporation.

Pure is a company that has grown significantly both in size and complexity over the last 10 years and required a new perspective on its overall risk management approach. Through a detailed and in-depth review of our Company and our business, Iridium was quickly able to immediately add value to Pure by helping us develop and implement a comprehensive insurance program that ensured appropriate coverage on a cost effective basis. Our senior management has been very impressed with both the professionalism and responsiveness of the Iridium team as we have made the transition from our previous provider. We look forward to a strong and long term business partnership between Pure and Iridium as our business continues to grow.

—Geoffrey D. Krause, CA, CPA
Vice President and CFO,
Pure Technologies

We selected Iridium as our insurance partner as they provided a unique business and risk management focus that was aligned with our vision. Their team performed a comprehensive assessment of our insurance requirements utilizing a risk-assessment approach. Not only were we impressed with their initial assessment, but their ongoing service level, engagement and commitment has demonstrated to us that they are a valuable business partner. I would strongly recommend Iridium as a risk management partner.

—Stuart W. Jaggard
Chief Financial Officer,
Painted Pony Energy Ltd.

We were impressed with the depth of research and analysis Iridium preformed in determining our operational exposures and regulatory insurance requirements. Iridium developed and executed an intelligent marketing strategy which resulted in a competitively priced insurance program that reflected our exposure needs. We now consider them to be our partner in risk management.

—Bruce Sherley
P.Eng, President,
Dundee Oil and Gas Ltd.

Iridium provides us with the guidance we need to ensure we have the proper coverage for our business. Iridium goes beyond the traditional broker role enabling us to explore different and new avenues that helped identify and address our various risk exposures.

—Marcia Elaschuk, CMA
Controller,
Divestco Inc.

From day one the team at Iridium has shown a commitment to researching and implementing the best possible solution for Pacesetter’s insurance needs which has met both our unique corporate and operational objectives. Iridium has demonstrated their knowledge of the different products and carriers and has demonstrated their commitment to privacy, confidentiality and discretion concerning the corporate information discussed in transacting with Pacesetter. Further, the Iridium team is committed to providing efficient, accurate support and service on all matters concerning our insurance and risk items as they come up.

—Chad Robinson
Chief Financial Officer,
Pacesetter Directional Drilling Ltd.

We are very pleased with the expertise and service that we receive from Iridium. We take comfort that our representatives at Iridium have a current understanding of market conditions and combined with the investment they make in understanding our business and risks, we are highly confident that we are getting the best coverage and competitive premiums. The people at Iridium are very attentive and responsive to our needs. I would highly recommend them to anyone.

—C. Dean Setoguchi
Vice President & CFO,
Keyera Corp.

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