Directors & Officers (D&O) Insurance
Non-Profit directors and officers can be held personally liable for the decisions they make on behalf of the organizations they serve.
Who sues directors and officers?
Claims against directors and officers can arise from many fronts: government agencies, funding sources, employees, financial institutions, customers and competitors. The cost to defend those claims, let alone settle them, can be staggering.
How Does D&O Insurance protect a non-profit?
Directors and Officers liability insurance was designed to cover the personal financial exposure that individual directors and officers face. The non-profit corporation, itself, the employees and volunteers are also generally included.
Employment related practices is also generally included with the directors and officers insurance coverage.
D&O insurance is triggered by claims arising from wrongful acts. Wrongful acts are, simply, errors in decision-making. D&O policies often exclude Bodily Injury, Property Damage and Personal Injury claims as there are other policies that provide this coverage.
Who should have D&O insurance?
Every Non-Profit Organization.
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