DIRECTORS & OFFICERS LIABILITY
Protecting Your Board
Strong , Responsible Organizations Protect Their Leaders With D & O Coverage
When you volunteer on a board , you ’ re donating your time , experience , and energy to an organization you care about , and you ’ re focused on how you can contribute to the group . But before you jump ‘ on board ,’ there are important liability considerations — and protections that should be in place . As an insurance advisor to several Community Association Boards of Directors and as an active member on the board of the Lower Shore Clinic , I have a unique understanding of the responsibilities and risks that come with the job .
Today ’ s dynamic social , political , and economic environment creates a perfect cocktail for litigious activity . What would happen if well-meaning board members were accused of mismanagement ?
Here are three reasons why you need Directors and Officers ( D & O ) Liability as a part of your risk management strategy .
MANAGING AMID COVID-19 .
As organizations were forced to make operational changes on the fly , this increased their exposure to accusations that situations were mismanaged . Some businesses faced claims that they “ failed to respond ” appropriately .
SOCIAL AND ECONOMIC PRESSURES .
Directors and officers make tough decisions during challenging times . Especially during the last year , with many
SERVING ON A BOARD WITH A SOLID D & O POLICY , YOU CAN BE SURE YOUR PERSONAL ASSETS ARE PROTECTED FROM DECISIONS THE BOARD MAKES .
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