[Board] Update on Directors & Officers Liability Insurance

[Daniel Morissette]

Hi board,

Here is an update on the Directors & Officers Liability Insurance that 
was up for renewal in May. This update comes a bit late because things 
were finalized only on Friday May 18th, and then I was leaving on 
vacation and just got back this week.

So here we go... after going back and forth with the broker and insurer, 
we were able to get the premium down to 1,123$ (+300$ commission = 
1,423$) by removing the Employee Pratices Liability (EPLI) coverage and 
going for D&O coverage only for the board directors (not including all 
the volunteers which is what apparently caused the much higher quote).

We got this revised quote on Friday May 18, and since our policy was due 
for renewal on May 13th (i.e. already expired), I had to move quick and 
give a response right away to avoid a gap in coverage. So I accepted the 
new quote and we are now covered for the coming year for D&O liability 
insurance, for the board directors only. (This is essentially the same 
that we had in the past minus Tyler as ED, since they were never aware 
before that we had so many volunteers involved with the organization).

My recommendation would be that next year we start early and try to find 
a broker that is more familiar with our type of organization. There are 
a few listed in the thread on D&O Insurance at 
http://flossfoundations.org/best-foundations-mailing-list (you need to 
subscribe to the Foundations list to get to the list archives).

-- 
Daniel Morissette
OSGeo Treasurer