Directors and officers (D&O) insurance is crucial for career colleges to protect their owners and leadership team from personal liability. This insurance covers legal costs and damages resulting from claims of wrongful acts, such as breaches of duty, mismanagement, or errors in decision-making by directors or officers. For example, if a decision made by the board results in financial loss or regulatory penalties, D&O insurance helps cover the associated legal expenses. Career colleges should ensure their policy covers the specific risks faced by educational institutions, including compliance with education regulations and fiduciary responsibilities. Regularly review the policy to accommodate changes in leadership or organizational structure. D&O insurance not only protects individual leaders but also supports the college’s ability to attract and retain qualified individuals by providing them with confidence in their legal protection. By securing robust D&O coverage, your college can mitigate the risk of personal financial loss for its leadership and uphold the integrity and effectiveness of its governance.

NACC has partnered with HUB Insurance to provide a one-stop-shop for Commercial Insurance, Employee and Student Benefits, Group Retirement, Surety and Personal Insurance.  To discuss your college’s unique needs please complete the form found here: HUB Inquiry Form