Directors and officers often serve as the backbone of nonprofit and social services organizations, helping them navigate decisions to succeed now and in the future. However, when directors' and officers' decisions are called into questions, costly litigation often results, making it difficult for your organizations to continue its good works.
Imagine what would happen if ...
• You are accused of misappropriation of funds and breach of duty, when funds were allocated differently than a donor intended
• Your board is sued for allegedly promoting discriminatory practices
• The treasurer is accused of falsifying the balance sheet
Key Features or our directors and officers insurance:
• Covers the organization's defense costs as well as settlements and judgments associated with claims
• Helps protect the personal assets for directors and offers
• Online risk management tools and resources to help you avoid costly lawsuits
Most larger companies have D&O insurance as an extra measure of protection against litigation. However, virtually all types of organizations are at risk of D&O exposure, including the following:
Non-Profit Organizations: Though most non-profit organizations mean well, they still manage to upset certain individuals and entities. If you have a non-profit organization, consider seeking the protection afforded by D&O insurance.
Community Associations: A community association is charged with making decisions based on the best interests of their neighborhood or building. However, some people may not agree with these decisions and seek legal recourse.
Private Companies: D&O insurance is most commonly associated with private companies. If your board of directors makes a costly mistake, it's good to have a D&O insurance policy to help mitigate losses.