Many boards of directors are faced with a multitude of tough decisions navigating an ever-changing landscape of living through a pandemic.
Nonprofits are no exception, and more and more boards are seeing the value of protecting their organizations as well as their personal assets with a comprehensive Directors and Officers policy.
Here are some exposures boards are seeing:
- Board diversity and funding implications
- COVID-19 restrictions, requirements and how to handle vaccines
- Challenges to exceeding board authority in handling the pandemic
- Restrictions to amenities and services
- Breach of contract for cancelled events
- Financial impact and altered operational abilities
- Changes to their insurance driving more boards to take a fresh look at what is covered and for how much
- Legislative changes at the state level such as extended statutes of limitations or business immunity
- Additional defense expense as courts strive to resume their normal pace of scheduling
