Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Board work brings potential liability for the director.
Directors & Officers Insurance protects the board members.
Most policies offer $1M to $2M of coverage.
Here are some key points to consider in choosing a policy:
- The policy should indemnify the directors.
- It should advance expenses at the point of need, rather than waiting for the directors to be absolved.
- It should provide coverage for up to 2 years after the company stops paying the premiums.
- It should be reasonably priced.
- It should be backed by the company’s charter which should also indemnify the board member.
- It should be reviewed annually by the board.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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