Article Archives >> Ready Reference >> January 2000
Preview of Article:
Directors
Often Fear Risks of Personal Liability
Board members face potential liability for their own actions in
causing injury to others, or in breaching a fiduciary duty to the
organization.
This Ready Reference Page Covers:
-
Liability to Third Parties
-
Volunteer Protection Laws
-
Fiduciary Duties (economic conflicts of interest, conflict of interest policies, duty of care)
Excerpt:
Although board members can cut the risk of personal liability by conforming
their conduct to the appropriate standards, they cannot control whether
or not they will be sued. Therefore, they should be sure that the
organization maintains proper insurance to protect them against foreseeable
hazards, including general liability coverage, professional liability
coverage where appropriate, and directors and officers liability insurance.
Article Archives >> Ready Reference >> January 2000
