Rising Claims for Non-Profit D&O Coverage
Posted on Jul 8, 2015 11:10am PDT
The board of a nonprofit faces the same risk of personal financial loss
as the directors and officers of privately-held corporations. Financial-based
claims can come from many different claimants, and it’s not unusual
to see seven-figure losses resulting from such claims made against directors
and officers of corporations
and nonprofits. Although this video was intended for insurance carriers, it
does shine a light on the fact that claims made against directors and
officers have been rising as of late—which means your personal risk
is rising, too.
D&O liability insurance coverage can round out your nonprofit’s
general liability insurance policy by protecting yourself, fellow board
members, and your organization as a whole from financial ruin in the event
of a lawsuit. Contact an insurance provider in New York City that specializes in
D&O liability insurance for nonprofits to learn more.