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Directors & Officers (Non-Profit Entities)

People who participate on the boards of nonprofit organizations offer their precious time for the development and organization of a social ideal. However, these people are legally responsible, in their personal capacity, against the financial consequences of the decisions of the entity to which they provide services.

To safely and responsibly manage these situations, we designed Liability Insurance for Directors and Officers of Nonprofit Organizations, which protects the financial responsibility of the directors and officers who participate in the non-profit’s decision-making process.

The policy covers financial compensation for defense costs and court judgments granted because of decisions that cause financial losses to the organization. Some of the typical demands are related to breach of duty, neglect, error or omission of the director and / or officer in the exercise of their functions as such.

 

The coverage includes

• Financial compensation as a result of a court judgment

• Expenses and defense lawyers for past, present and future directors, and his or her heirs and/or legal representatives, in case of death

 

Limits and deductibles available

• Limits from $100,000 for each and every loss and in the annual aggregate up to the $1,000,000 maximum limit

• $1,000 minimum deductible up to $25,000 maximum deductible for each and every loss

 

What distinguishes our policy?

• Competitive premium

• Coverage provided by a purely local (Puerto Rican) company

• Coverage for past, present and future directors

• Premium financing available

 

 

 

 

 

 

 

 

 




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