D + O Liability

Directors and Officers Liability insurance (D&O) is becoming more and more important in today's society. 

It is pretty hard to ask people to serve on your board, give their time, energy and talents and then have them take the personal risk of losing their savings if they are sued.  If your organization has not bought enough liability coverage, or has neglected to buy D&O coverage at all, you are putting your Directors and Officers in a vulnerable position.   

The "Non-Profit Corporations Act" was changed in 2003 so that it does provide some protection for board members if you are sued because of your involvement with the organization.  However, that protection only applies if you have not breached any acts, if the law suit does not involve employee wages, and if you can show you acted in good faith.  The legal costs to defend yourself or to prove that you are innocent can be overwhelming.

A D&O policy not only will pay for the cost of a judgment but will also pay for the legal costs to defend you in the case of a law suit. 

Different organizations and companies require specific types of liability coverage, including D&O Liability. 

If you or your organization are interested in having Al Hattie Insurance provide this coverage for you, please contact our office.