California Consumer Privacy
Club D&O Program
What is Not-For-Profit D&O Liability Coverage?
D&O is written to:
- Protect the personal assets of an organizations directors & officers & organization's
- Protect the organizations assets;
- Provide reimbursement to the organization to indemnify D&O's for their losses; and
- Help the organization monitor & provide defense costs associated with responding to lawsuits
Why Not-For-Profit Organizations Should Consider Buying D&O Liability Coverage?
- Cost of defending lawsuits may exceed the net worth on many non-profit organizations;
- Judgements can be financially crippling and can come from vendors, donors, competitors, &
- Organization's indemnification may not be available;
- Business decisions made by board members can quickly impact the finances & operations of the
- Unique conflicts of interest may exist due to complexity of responsibilities;
- Organizations will have a difficult time attracting qualified individuals to their boards
without D&O coverage.
What Are the Sources of D&O Claims?
- Governmental Regulations
- Failure of a Fiduciary Duty
- Misuse of Donor-Restricted Funds
- Improper Conduct of Volunteers or Employees
- Failure to Fulfill Mission