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Charities and Associations

Individuals that serve on boards of public, private, or non-profit organizations can have legal action brought upon themselves personally for actions that the companies they serve take.  In order to be protected from this legal action, the organization should have Directors & Officers Liability Insurance

A Directors & Officers Liability insurance policy provides coverage for the following:

  1. Allegations of negligent acts and misrepresentation

  2. Employee discrimination claims

  3. Allegations of wrongful dismissals

  4. Failing to exercise legal or fiduciary duties

  5. Failure to follow provincial and federal laws and regulations

  6. Legal expenses incurred when defending members of your charity or organization

A Directors Officers Insurance policy does NOT usually include coverage for property damage, bodily injury, criminal or fraudulent acts, fines and penalties, or intentional non-compliant acts.

Factors that impact the cost of Directors & Officers Insurance include:

  • Type and size of the organization

  • Training and Experience of the Leadership

  • Number of Employees

  • Annual and Projected revenue

  • Past Claims History

  • Company safety or quality control practices and procedures

Charities and Associations still need other insurance coverages depending on their type of organization such as Commercial General Liability, Business Interruption, Cyber Liability and Commercial Property Insurance.  Contact Keystone Commercial for a free comprehensive insurance consultation.

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