Director & Officer Liability Insurance

The Michigan Nonprofit Association has teamed up with Lyman & Sheets Insurance Agency to provide Directors & Officers Liability insurance to MNA members.

What is D&O Insurance?

A Directors & Officers Liability policy can help protect members of your organization's board of directors. In most cases, personal liability and umbrella insurance policies will not cover an individual's service to a nonprofit organization. Directors & Officers Liability coverage can cover this gap, protecting your board of directors and your organization in the event of a claim.

Could This Happen To Your Organization?

The Executive Director of a day care center is terminated due to unauthorized spending of funds. The day care center is sued for wrongful termination resulting in a $75,000 settlement in favor of the former Executive Director.

An educational/training organization is sued by the government for providing services to an individual who was not qualified to receive the benefits according to terms of a federal government grant.

A community service organization is sued by a client for breach of an implied contract to provide social service aid. The client is awarded $98,500.

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Coverage Highlights:

  • Defense for the insured in the event of a D&O claim.
  • Coverage for past, present and future directors, officers, trustees, and employees.
  • Coverage for claims alleging wrongful termination, harassment, discrimination, misrepresentation, failure to employ or promote, wrongful discipline, failure to grant tenure, mental anguish, emotional distress, invasion of privacy, libel, slander, and more.
  • Free 90-day discovery period.