Affording superior knowledge to students is the goal of every educational institution. However, this ability can be hampered when top-level staff are the subject of lawsuits related to negligent or wrongful managerial decisions.
In this case, directors and officers for educators insurance is a must for every educational institution. These policies can help schools mitigate the financial damage incurred by lawsuits brought against high-ranking personnel.
What Does Directors and Officers Insurance Cover?
When it comes to directors and officers policies, there are a number of instances that can be covered under such plans. This includes civil, criminal, and even administrative proceedings resulting from real or alleged errors made by board members. While these policies are typically associated with commercial entities, they can also be quite useful to educational facilities.
In the event that allegations are not founded, litigants can still experience dire financial fallout. Those at the helm of an organization may find their personal assets imperiled, which can negatively affect their ability to lead going forward. Directors and officers policies removes some of this financial burden by providing funds for defense costs, while also offering reimbursement when necessary.
Coverage You Need to Remain Protected
While supplying educational resources is essential, educators can encounter quite a few risks that aren’t evident in other industries. For this reason, directors and officers for educators policies must be included in larger insurance plans. These plans will protect those tasked with making important decisions related to educational pursuits, which is crucial to maintaining a positive learning atmosphere for all students.