OASIS Outdoor Adventure Sport Insurance Solutions Inc. - Directors & Officers liability

DIRECTORS & OFFICERS LIABILITY
Non-Profit Associations are operated for the benefit of a group of persons. Allegations of mismanagement, misrepresentation and other procedure violations are normally brought against both the organization and the directors and officers by regulators, creditors, and other stakeholders. The policy normally names the directors, employees, volunteers, committee members and trustees as insured under the policy.

WHY D&O?
The directors and officers have an enormous responsibility and a wide range of third parties can put the senior management of the organization at serious personal financial risk. The results of a lawsuit can be devastating, affecting the personal lives of those named in the suit as well as the financial viability of the organization.

Here are some disturbing facts:

• You don't have to be "wrong" to be exposed: the merits of the case may not matter, and the defense costs can be massive.
• All organizations, regardless of structure - public, private or non-profit - have exposures.
• Directors & officers are increasingly concerned that judgments will reach into their personal assets or even those of their spouse.
• Claims costs are trending toward multi-million dollar figures.
• Age discrimination is the largest single source of the recent explosion in employment related litigation. As the workforce ages, this trend is likely to accelerate.

Examples of allegations of Wrongful Acts:

• Conflict of interest
• Fraudulent conduct, reports, financial statements or certificates
• Violation of statue
• Violation of provisions of articles or by-laws
• Improper self-dealing
• Acquiescence in conduct of fellow directors engaged in improper self-dealing
• Transactions with companies in which officers or directors are personally interested
• Allegation of Financial Mismanagement
• Inefficient administration resulting in losses
• Sale of assets for unreasonably low prices
• Wasting of assets
• Extension of credit where not warranted
• Allegation of Mistakes or Errors in Judgment
• Disclosure of material facts
• False or misleading reports
• Dissemination of false or misleading information
• Permitting organization to make improper guarantees
• Allegation of Negligence
• Failure to examine reports or documents before signing
• Failure to detect and stop embezzlement of organizational funds
• Failure to file annual report
• Failure to supervise the activities of others in a proper manner

Operating Budget		$1,000,000	$2,000,000	$5,000,000
		Limit	Limit	Limit
		ESTIMATED	ESTIMATED	ESTIMATED
		Annual Premium	Annual Premium	Annual Premium
$ -	$100,000	$275	$400	$650
$100,001	$250,000	$400	$500	$800
$250,001	$500,000	$550	$650	$1,000
$500,001	$999,999	$650	$750	$1,250
$1,000,000	$2,000,000	$1,000	$1,250	$1,750
over	$2,000,000	refer	refer	refer
OPERATING BUDGET = REVENUE + CASH