Directors & Officers Liability Insurance Basics
Imagine these scenarios affecting organizations of varying types and sizes:
Members of a trade association sue the group’s board of directors, accusing them of mismanaging association funds by spending thousands of dollars on a project that went nowhere.
Stockholders in a small restaurant chain sue the company’s risk management officer after a location suffers a total uninsured loss of the building, contents and food.
A taxpayer group sues a public library’s board of trustees for building up a reserve fund that the group