Not-for-profit Directors and Officers Liability Insurance

Not-for-profit Directors and Officers Liability Insurance

Learn the fundamentals of ‘Not-for-profit Directors and Officers Liability Insurance’ - what’s covered and what’s not, how policies are structured, what to do and expect when there is a claim, and more. 

A course for every director and officer of a not-for-profit organization and those who support and guide them. 

Pointers

What you will learn

Exposures and protections
The legal duties of directors and officers of not-for-profits, their personal exposures and available protections.
Insurance coverage
How D&O insurance works, what it does and does not cover, and challenges unique to not-for-profit organizations.
How claims work
What to do and what to expect when there is a claim.
Risk mitigation
What organizations and directors and officers can proactively do to improve governance and minimize risk.

Course Curriculum

Welcome to Not-for-profit Directors and Officers Liability Insurance

  • Course introduction FREE PREVIEW
  • Course objectives
  • Downloadable material

Responsibilities of directors and officers of a not-for-profit organization

  • Chapter objectives
  • The role of a director of a not-for-profit corporation
  • Duties of not-for-profit directors and officers
  • Duty to manage
  • Duty of loyalty
  • Duty of care
  • Duty to obey FREE PREVIEW
  • What are the rules to which directors and officers must adhere
  • Quiz instructions
  • Quiz #1

D&O Insurance for Not-for-profits

  • Chapter objectives
  • What is directors' and officers' liability insurance? FREE PREVIEW
  • Indemnification – how and when insurance pays out
  • The indemnification process
  • Managing your indemnity and insurance program
  • D&O and not-for-profit organizations
  • Indemnification and not-for-profit organizations
  • Quiz #2

Understanding D&O policies

  • Chapter objectives
  • The structure of a D&O insurance policy
  • Non-indemnifiable loss (side A)
  • Indemnifiable loss (side B) FREE PREVIEW
  • Entity coverage (side C)
  • Who's covered?
  • What's covered?
  • What's not covered?
  • Policy extensions
  • Quiz #3

What if There is a Claim?

  • Chapter objectives
  • What constitutes a not-for-profit D&O insurance claim?
  • What is a claim under a D&O policy?
  • What is a wrongful act under a Not-for-Profit D&O policy?
  • Who can bring a claim against a not-for-profit organization?
  • Causes of claims FREE PREVIEW
  • What is a loss under a D&O policy?
  • Understanding policy reporting requirements
  • Claims made and reported policies vs. claims made policies FREE PREVIEW
  • Potential claim notification
  • Extended reporting period
  • Reporting a D&O claim to the insurer
  • How D&O claims are handled
  • D&O claims: defence and settlement
  • Activity: What to expect from the claims process
  • Quiz #4

Minimizing the Chance of a Claim

  • Chapter objectives
  • A look at the risk of claims
  • Understanding governance FREE PREVIEW
  • Reducing risk through good governance
  • Guidelines for directors and officers
  • Guidelines for the board
  • Quiz #5

Buying not-for-profit D&O insurance

  • Chapter objectives
  • Reasons for buying D&O insurance FREE PREVIEW
  • What to buy?
  • How premium is determined?
  • Retention or deductible?
  • How much coverage to buy?
  • Terms and conditions
  • Policy length
  • The application process
  • Understanding your NFP D&O application
  • Selecting an insurer
  • What to expect from your insurance broker
  • Managing your insurance FREE PREVIEW
  • Quiz #6

Final Examination & Course Wrap Up

  • Course wrap up
  • Course survey
  • Not-for-profit Directors & Officers Liability Insurance Final Assessment

About ITC Courses

ITC takes pride in delivering high quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.

How we build courses

ITC courses are the product of a collaborative approach. We work closely with subject matter experts to build out course content, the ITC design team brings that content to life, and no course is published before undergoing an intense review by an industry panel. Our process also includes post-publication reviews and updates because ITC is committed to delivering quality courses that remain accurate, relevant and up-to-date, long after they are first published.

Testimonials

Broker, VP, Canada

ITC’s Understanding Financial Statements course fills a large gap in the specialty insurance industry and has the ability to take the burden off busy brokers trying to put time into training new hires. I highly recommend including this course in brokerage onboarding practices to help accelerate the training process or bolster knowledge already obtained. Understanding not just how to read financial statements but also having more background on why an underwriter is quoting the terms they are will help put brokers in a much better position to negotiate and advocate for their clients. This course is versatile enough to apply and be beneficial to non-specialists also.

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ITC effectively tackles complex subject matters in a very creative manner. I would highly recommend to anyone looking to broaden their understanding.

Broker, Canada

Great way to enjoy an evolving subject matter. Thank you ITC, enjoyed that!

Broker, Australia

Tough topics. Beautifully presented.

Senior Underwriter, Canada

I’ve been in the industry for nearly 15 years and event I learned some things in this course! It’s a straightforward and intelligent way of presenting a complex issue. Not a small feat.

Everyone will find this course helpful, no doubt.

Broker, Canada

ITC has done it again! This is the most comprehensive course on Employment Practices Liability I’ve ever seen. The subject matter is presented clearly and broken into subsets allowing you to spend only a few minutes or longer as your time permits. Examples are applicable to real-life situations. Excellent for new and established professionals!

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