Revealed - Canada's 5-star professional liability and D&O insurers 2023

With new social, political, and economic challenges springing up, professional liability (PL) and directors and officers (D&O) policies have taken on an increasingly important role in the insurance landscape.

Now, Insurance Business Canada (IBC) has released the 5-star PL and D&O winners for 2023 - insurance companies that help their clients meet those challenges.

IBC identified the best PL and D&O insurance companies by engaging the country’s top brokers in one-on-one interviews and surveys to determine the leading PL products. Afterwards, the IBC team spent 15 weeks surveying its network, asking them to rate the PL insurance companies they have worked with over the past 12 months on coverage, underwriting expertise, and risk mitigation.

The companies rated above 4 out of 5 by brokers were recognised as Canada’s 5-Star Professional Liability and D&O insurers.

Essential factors when choosing an insurance policy for clients

According to brokers who responded to IBC’s survey, the factors they consider essential when choosing an insurance policy for their clients are the following:

• Coverage (4.94 out of 5);
• Underwriting expertise (4.73 out of 5);
• Claims payment and processing (4.48 out of 5); and
• Access to risk mitigation risk evaluation partners (3.91 out of 5).

Insurance Business Canada’s 5-Star Professional Liability and D&O 2023 winners

Some of this year’s IBC 5-Star Professional Liability and D&O winners were:

• Arch Insurance Canada
• Trinity Underwriting

See the rest of this year’s winners and what made them outstanding by reading the IBC 5-Star Professional Liability and D&O 2023 report.