Think about it, one large uncovered or under-covered loss could put a NFP right out of business. Which is not only a loss for the organization and it’s employees but for the community as well as the service that NFP provided will no longer be available… Now that is a Tragedy…
Market tolerance for Director’s and Officer’s Liability Insurance (D&O) is in flux. Both public and private organizations carrying D&O insurance should be prepared for potential changes in both coverage and premium.
The large sum is still officially listed in the organization’s financials but no one, not staff, not Board Members, no one is sure where the money really is. BOOM LAWSUIT!
Are you certain that your insurance company will provide legal defense for your organization in the event of lawsuit?
