Insurance policy resolution

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Revision as of 17:29, 18 June 2017 by Econterms (talk | contribs) (→‎Notes: categories of expenses)
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Status: Under Review

Resolution

1. The President is authorized to solicit, negotiate, and procure, for the benefit of the Corporation and the Directors and Officers of the Corporation, any and all insurance policies which are typical for nonprofit corporations of a similar size and nature to the Corporation (including, but not limited to, General Liability and Directors and Officers policies) under commercially reasonable terms and subject to the normal limits on expenditures defined in the Fiscal Control Policy.

2. The President is authorized to solicit, negotiate, and procure, for the benefit of the Corporation, any and all insurance policies which the Corporation is required to have as a consequence of its employment of staff (including, but not limited to, Unemployment and Workers' Compensation policies) in accordance with applicable statutes and subject to the normal limits on expenditures defined in the Fiscal Control Policy.

Notes

The following text is not part of the proposed resolution: There are several likely components to insurance expenditures in coming years:

  • Unemployment Insurance, to DC
  • Workers' Compensation, to DC, with apparently some additional complications associated with our advocacy/lobbying
  • Insurance covering board members
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