What is directors and officers liability coverage and what does it cover?
A. Phi Kappa Tau’s national insurance program offers directors’ and officers’ coverage to all undergraduate chapters, House Corporations, alumni associations and Chapter Education Foundations. Directors’ and officers’ coverage protects all directors, officers, volunteers and the entity for claims arising from failure or negligence in carrying out your fiduciary duties of diligence, obedience and loyalty to the organization. Claims covered under a directors and officers liability contract are claims for financial injury and not bodily injury or property damage of a third party that are insured by the general liability coverage of the Fraternity.
