Oct 25, 2013
The day-to-day of running any operation, from a huge corporation straight down the line to a homeowners' association is exhausting. A president of a small non-profit has enough to deal with without the liability of a treasurer who steals from the donations that feed the homeless they aim to serve. That's where Directors and Officers Liability insurance comes into play.
Though, it goes the distance, covering a lot more ground than just if a treasurer has stolen. D&O, as it is affectionately known, provides the organization with money for legal costs too. It pays to the organization on behalf of the officers or directors who either definitely went astray or are just being accused of wrongdoing.
It even covers gray area such as an officer who mixes their personal assets with the corporate resources, conflicts of interest or even errors in judgment that harm, say, shareholders. Depending upon the type of policy, these may be covered. Criminal behavior coverage is limited, though.
Visit Gateway Professional Insurance Services for more information about Vacaville D&O insurance.
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