 Directors & Officers Liability Insurance
by Brenda Heenan, District 15 Director
Delegates at the recent OHA Convention in North Bay voted to direct the OHA Board to obtain Directors & Officers Liability Insurance on behalf of every OHA Society.
I am pleased to report that effective Oct 17, 2005 each Director and Officer of an OHA Society Board of Directors is covered with Directors & Officers Liability coverage through Law Insurance Brokers.
For more information about the policy details and the underwriting company please review the documents below.
To view these documents, you need the Adobe Reader software available for FREE as a download from www.adobe.com. Click the "'Get Adobe Reader" button and follow the directions.
Details about the coverage through Law Insurance Brokers: Directors & Officers Liability Insurance (PDF 54 Kb)
Details about the underwriter: ENCON brochure (PDF 587 Kb)
Sample Policy from ENCON - specimen only (PDF 138 Kb)
Even with insurance coverage, it is important to be informed and aware of our liabilities and responsibilites as Directors of our organizations.
Insurance coverage is not a substitute for informed and careful decision making.
I have collected some reference links where you can learn more about your liability as Society Board members.
Industry Canada created this booklet Primer for Directors of Not-For-Profit Organizations. It covers all aspects of liability and includes information about risk protection.
The Canadian Association Program website offers some tips about loss prevention strategies for board members which are important in managing the risks directors are exposed to.
A Q&A section on Directors Role & Responsibilties is available from the Not For Profit & Charity Law organization. Click here for the link.
Volunteer Canada also has some good information about Directors & Officers Liability Insurance. Click here.
(2007-02-02) |
