Non-Profit Board Service Seminar (1 PM session)
Registration is closed for this event.
NON-PROFIT BOARD SERVICE; RISKS AND RESPONSIBILITIES
March 24, 2010 (1:00 p.m.)
Approved for 2 hours Continuing Education Credit
by the American Society of Association Executives.
So, you want to serve on the board or become the CEO of a non-profit organization. Congratulations, those are noble and philanthropic goals. However, the possibility of a lawsuit naming your board of directors or the organization always exists. Thousands of lawsuits are filed every day, a number of which are against individuals associated with non-profits or against the organization itself.
The responsibility of serving on the board of a non-profit or as its CEO brings with it a duty to preserve the assets of the organization. Under Virginia law, a non-profit must indemnify its directors. This means that the organization must pay for the costs of any litigation, as well as any monetary relief the court may award. There are many risks to which a non-profit is exposed: improper acts of officers and directors; employment claims; criminal acts of employees and agents; personal injury claims and breach of fiduciary duty claims. Insurance coverage can be the best way to minimize these risks and protect the assets of the organization.
In Non-Profit Board Service: Risks and Responsibilities, First Market Bank, Chubb Specialty Insurance and the lawyers of Sands Anderson Marks & Miller will lay out the contours of a board member's duty of care and discuss the risks that threaten the assets of the organization. The program will provide an overview of how insurance products can provide coverage and be used as a means of protecting the assets of the non-profit. Special attention will be given to three types of coverage: officer and director liability coverage; employment practices liability coverage and employee criminal misconduct coverage, as these are three areas that often pose significant risk for a non-profit organization.
Program Agenda
| 9:00 - 9:10 | Introduction |
| First Market Bank | |
| 9:10 - 9:55 | Meeting the Duty of Care and Addressing Areas of Risk for Non-Profit Organizations |
| Sands Anderson Marks & Miller, P.C. | |
| 9:55 - 10:45 | Using Insurance to Protect Non-Profit Assets (a discussion of insurance coverage for officers and directors, employment practices and risks of threat or breaches of fiduciary duty) |
| Chubb Specialty Insurance | |
| 10:55 - 11:30 | Panel Discussion of Key Legal and Insurance Issues Relating to the Preservation of Non-Profit Assets |
| Panel |
THIS PROGRAM IS A REPEAT OF THE MORNING SESSION. IF ONE SESSION IS FILLED TO CAPACITY, YOU WILL BE CONTACTED ABOUT RESCHEDULING FOR THE OTHER SESSION.