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Nonprofit Directors' and Officers' Insurance

Waller, Mark (1995) Nonprofit Directors' and Officers' Insurance. QUT, Brisbane. [Working Paper] (Unpublished)

Abstract

In the present economic climate it is easy to get carried away by the negative aspects of the rationalisation and review process which has taken place. As a person considering an offer to take up office with a non-profit organisation or as a person already holding such a position, one way of dealing with the increased exposure to liability may be to refuse the offer or resign from your position. Although this is a legitimate risk management tool (and appropriate in some circumstances), it is essential to the recovery of the economy that the "close up shop mentality" does not prevail. Although regulation of the business community and the community in general and enforcement of those regulations is increasing, the legal framework in which directors, officers and committee members of non-profit organisations operate has not substantially changed in recent times. It is necessary to face up to liability exposures (many of which have existed for centuries) and take steps to manage those exposures in order to carry out the objects of the organisation you serve and which in turn serves the community.

Impact and interest:

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ID Code: 53249
Item Type: Working Paper
Keywords: Nonprofit Organisations, Directors' insurance
ISBN: 1864350091
ISSN: 1037-1516
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000)
Copyright Owner: Copyright 1995 M. Waller / Clayton Utz
Deposited On: 22 Aug 2012 11:53
Last Modified: 22 Aug 2012 14:42

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