Serving on a board, whether for a for-profit company or a non-profit, can be a great experience.
It can however, have adverse financial consequences for you personally.
More or less, Directors & Officers (D&O Insurance) coverage covers the directors and officers for liability for managerial decisions that end up having negative financial consequences for others.
An investor suing for misrepresentation of financial statements. Accusations of improper management resulting in lost funds, etc.
Unfortunately, the General Liability policy that most organizations have do not cover these types of events.
Do you serve on a board? How are you protected?
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