Who Needs Directors and Officers Insurance for Educators?

Directors and Officers for Educators is a type of insurance that is frequently overlooked. Unfortunately, professionals who serve as board members, advisors, and other officers or directors at educational institutions face significant exposure. For the following professionals, this insurance is virtually essential as a form of protection against financial loss.


Professionals in Leadership Roles


People who serve as trustees, board members, officers, directors, or even advisors may face liability for their failure — or perceived failure — to perform professional duties. People who held these positions in the past may face ongoing responsibility for mistakes or failings that are discovered later. The accidental nature of a professional error or oversight will not shield these professionals from costly claims, which makes protection through insurance essential.


People With Significant Personal Assets


If damages are awarded in a claim against a director, an officer, or someone fulfilling a similar role, the individual may be held financially responsible for those expenses, making the loss of personal assets a legitimate risk. Even the spouses of directors and officers can be vulnerable to loss. Although having Directors and Officers for Educators insurance is advisable for most professionals who qualify for coverage, for those with significant personal assets at stake, this coverage is truly essential.


Better Understanding the Coverage Options


Many people who question whether they need Directors and Officers insurance could benefit substantially from coverage. At the least, these individuals should speak with an insurance representative to fully understand their insurance needs and options.