Nonprofit directors and officers liability insurance

{
  "id": "MLC-T-INS-002351",
  "term": "Nonprofit directors and officers liability insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage designed to protect the directors, officers, trustees, and sometimes employees of nonprofit organizations from claims arising from their management decisions and actions. It covers legal defense costs and damages for alleged wrongful acts, such as mismanagement of funds or breach of fiduciary duty. This insurance addresses the unique risks faced by nonprofit leadership.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/nonprofit-directors-and-officers-liability-insurance/"
}