Many nonprofits wonder if directors’ and officers’ liability insurance is a must-have, just like bylaws or a conflict-of-interest policy, especially as even the smallest organization will have to pay upward of $1,200 per year for it.
Directors’ and officers’ liability insurance—known as D&O insurance—is protection against a breach of duty by the directors and officers. D&O pays for what the policy calls wrongful acts: "Any actual or alleged act or omission, error, misstatement, misleading statement, neglect or breach of duty by an insured person in the discharge of his/her duties."
Read my full article here at www.MassNonprofit.org.
Directors’ and officers’ liability insurance—known as D&O insurance—is protection against a breach of duty by the directors and officers. D&O pays for what the policy calls wrongful acts: "Any actual or alleged act or omission, error, misstatement, misleading statement, neglect or breach of duty by an insured person in the discharge of his/her duties."
Read my full article here at www.MassNonprofit.org.
No comments:
Post a Comment