Director’s & Officers Liability Plus

What if someone files suit against your group for a breach of duty? What if an officer gives misleading information? Directors & Officers Liability Plus picks up where Liability Plus leaves off by providing insurance protection for losses resulting from an actual or alleged error or omission, misleading statement or breach of duty. This coverage is sometimes referred to as management malpractice.

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Coverage is available to any PTA, PTO, Booster Club, or qualifying Nonprofit Chapter or Club wishing to purchase this D&O liability protection. The following are Insureds under the policy:

  • The group as an entity.
  • Any Director; or Officer; or Trustee; or Employee; or Volunteer

The policy provides Directors & Officers Liability insurance protection up to $1,000,000 per occurrence /$1,000,000 annual aggregate for decisions made by an officer, director, or board. There is no deductible and coverage is included for the following:

  • Wrongful Act
  • Error or Omission
  • Negligent Act
  • Misleading Statement
  • Breach of Duty
  • Employment Practices Liability
  • Copyright Infringement

The territory of this particular policy is worldwide provided that the suit or proceedings are brought within the United States, including its territories and possessions, or Canada.

The time limitation of almost any insurance contract is defined by its inception and expiration date and time at some specific location. This limitation is also known as the policy period, which in this instance is one year.

There are some specific exclusions usual to Directors & Officers Liability insurance. There is NO coverage, or coverage is excluded for loss or claims arising out of:

  • Unjust enrichment, obtaining profit or advantage to which the Insured was not entitled
  • Any criminal, malicious, fraudulent, knowingly wrongful, or dishonest act or omission
  • Bodily Injury (see Liability Plus)
  • Property Damage (see Liability Plus)
  • Personal Injury (see Liability Plus)
  • Any intoxicating substance
  • Securities Exchange Commission exposures
  • Employee Benefit plans