[Ofa_boardplus] Directors and Officers (D&O) insurance and related

[Jim Ryan]

You'll recall this was discussed briefly at the last Board meeting. We had
just received a quote for 3 types of insurance which the broker felt best
for the OFA:
- D&O Liability $2,233

- Fiduciary Liability $100

- Professional Liability (Tech E&O) $1,879

I was asked to distribute the quote which I did but I knew it would be next
to useless. It is just too high level to make much sense. I was asked to
seek more informative documentation which I did. However, they erred in the
other direction -- they were so long and detailed it would be unreasonable
to ask any of you to wade through

I'm attaching documents which I hope provide more useful information but
which are relatively short and I hope self-explanatory

Next, I sought answers to questions raised in the Board meeting and one
additional one:
1): The proposed insurance does not offer any provisions for benefits
should the OFA need to shut down for any reason

2): The policies do not provide any coverage for possible liability arising
from face-to-face meetings such as our Workshop when we go back to that
format.

3): I didn't understand the term "Fiduciary Liability". The cost is trivial
but I learned it is for "monetary protection of others assets when we are
supposed to be protecting them".

I sincerely hope this helps. Questions/comments by email are welcome and I
hope we can discuss this at a future XWG meeting, and so on

regards, Jim
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