What is Director and Officer Insurance?
Board members and officers may be personally liable for any wrongdoing or negligence on behalf of an organization. It’s important that board members are aware of the legal duties and obligations of being a board member. Directors’ and officers’ liability insurance is the recommended way to protect you or your board members against potential personal financial losses.
It is also important to note that:
Directors can be held personally liable.
Ignorance is not a defense.
Resignation is not necessarily a defense.
Board indemnity may not be enough.
Directors may be liable for nonperformance.
WFTDi provides Director and Officer Insurance for each league independently at a cost of $150 for the calendar year.