When serving on a nonprofit board of directors, the question
often arises of whether they should obtain
Directors and Officers (D&O) coverage. It may seem like a trivial coverage at first sight, but there is a
lot of benefit that can potentially save each board member from losing their
personal assets. Below are a few reasons why it is extremely important in
today’s litigious society to purchase D&O coverage for your Nonprofit Board
of Directors:
- Lawsuits can come from donors, employees, the public, clients and governmental agencies
- Board members assets (their homes and investments) can be at risk
- Bylaws of the organization may indemnify the board but not board members
- Lawsuits can put a nonprofit out of business in defense costs alone
- Corporate scandals like Sarbanes Oxley Act has heighted accounting awareness
- Over 400 nonprofits have been audited by the IRS in the last year
Get an
instant quote for your upcoming nonprofit D&O
account by providing the below information or give us a call at 877-977-4474.
- Name of the Applicant
- Physical Address
- Description of Operations
- Total Annual Revenues
- Number of Full Time, Part Time Employees and
Volunteers
When serving on a nonprofit board of directors, the question
often arises of whether they should obtain Directors and Officers (D&O) coverage. It may seem like a trivial coverage at first sight, but there is a
lot of benefit that can potentially save each board member from losing their
personal assets. Below are a few reasons why it is extremely important in
today’s litigious society to purchase D&O coverage for your Nonprofit Board
of Directors:
Get an instant quote for your upcoming nonprofit D&O
account by providing the below information or give us a call at 877-977-4474. 