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Directors and Officers Insurance


Some of its coverages are: Defense expenses, extension of defense coverage for spouses, heirs, and legal representatives.

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Non-profit Directors and Officers (D&O) Policy

Non-profit organizations contribute to our society by educating our children, caring for the infirm, preserving the land, art, and music, feeding the helpless, protecting the environment, and promoting our culture, among other things.

The members of a Board of Directors and Officers are the persons responsible for leading and ensuring that the purpose of the non-profit organizations is fulfilled. They have a fiduciary responsibility to act and make decisions in the best interests of the entity, and to safeguard the assets of the organization, which, ultimately, benefits us all. However, even the most specialized and qualified Board may encounter unexpected threats that, due to the complexity of their nature, are better mitigated through an insurance policy.

The non-profit Directors and Officers Professional Liability (D&O) policy provides to the members of the board the protection necessary to do their work and perform professional obligations with the peace of mind that their personal assets are not at risk, and it covers third party claims stemming from allegations of negligence, errors, or omissions in their professional performance as members of the Board.

The “D&O” policy contemplates defense expenses and compensation for claims under the policy. Some of these basic coverages are:

  • Coverage for defense expenses.
  • Extension of coverage to spouses, heirs, and legal representatives of the Directors and Officers.
  • Option to cover the entity.
  • Extension of the period to report losses filed during the term of the policy.

The general conditions of the policy details the covers of which the insured takes benefit, and the benefits, requirements and restrictions set forth in the agreement. 

  • Professional Responsibility of Directors and Officers (D & O) nonprofit policy provides members of the Board the necessary protection to carry out their professional duties. This allows their personal assets not to be in risk.
  • This insurance covers third party claims arising as a result of allegations of negligence, error or omission of Directors and Officers in their professional performance as members of the Board.
  • Any doubts about this policy can be clarified through the MAPFRE Contact Center telephone service.

This insurance includes a number of requirements and restrictions that must be studied by the customer before hiring. It is important to consider these aspects to choose the policy that best suits your needs and those of your business.

  • For the purposes of this insurance, is considered Director or officer the person who was or is duly elected or appointed as director or officer, but only in their capacity as such.
  • The limit of insurance stated in the policy is the maximum amount that will be paid regardless of the number of insured, directors or officers, requests received, organizations or individuals that engage demands.

The Insurance has the following restrictions:

  • Personal injuries are not covered.
  • The company does not cover anything other than monetary damages. 
  • Not included in the cover: the return of any compensation paid to an insured without the prior approval of the Board of Directors, if the courts believe was an illegal payment.
  • We do not provide cover for those claims based on, arising out of or as a result of the commission or omission of any deliberately dishonest, malicious or fraudulent, criminal act or any willful violation of the law by any insured.
  • Not included in the cover: liability for claims arising out of, or attributable to obtained financial benefits of buying, selling or issuing securities.
  • We do not provide cover for those claims based on, derived from, or attributable to bodily injury, emotional distress, mental anguish, illness or death of any person.
  • Not included in the cover losses caused by nuclear radiation or radioactive contamination.

MAPFRE advises to follow some recommendations to facilitate the insured the access to the benefits and advantages included in the policy. 

Recommendations for hiring a Directors and Officers Insurance for your business: 

  • Read carefully all special provisions and clauses for each cover.

Recommendations to benefit from the Directors and Officers Insurance Covers: 

  • In case of complaint, it is imperative that the insured contact us and give us written notice as soon as possible and no later than 30 days from the expiration date of the policy.
  • In case of a claim, the insured must provide the names and addresses of those affected and existing witnesses.
  • In case of complaint, it is essential that the insured send any demand, order or notification received concerning it.
  • The insured must fully cooperate with MAPFRE in the investigation and establishment or defense of the claim.
  • The insured authorizes MAPFRE, if necessary, to obtain records and other information related to the claim.
  • The insured shall not assume any contractual obligation or admit responsibility for a claim without our consent.

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