We have found that our clients like to give back to their community, often by sitting as a board member for a local non-profit. These positions are usually volunteer and clients are not compensated for their work. When this occurs, some nonprofits will provide a layer of Directors and Officers Insurance to their board members. The limit provided may not be enough to protect the board member’s assets.
In the unfortunate event that a lawsuit depletes the primary layer of coverage, the personal assets of the board members may be at risk. Many of our high-end insurance carries such as AIG, Chubb, Pure and Cincinnati will be able to provide D&O coverage above the organization’s base limits.
Please reach out to us to learn more about what this coverage protects against.