Liability Insurance

NBAD provides liability insurance for its Board of Directors and members of Committees.

2020 – 2021 Cowan Insurance – NBAD Policy

Q & A to Cowan Insurance

Q. Does this policy cover Committee members of the Association as well as Board of Directors? 
A. If the committee is comprised entirely of members of the association, then the policy would extend, as for the Disciplinary action of the policy also has an endorsement which is crucial to this.
See last item on policy “Peer Review, Accreditation and Licensing Endorsement” (page 11) which removes the standard exclusion for peer review actions such as a Discipline Committee.

Q. Is the Lay Representative covered if they are not a member of the Association?
A. There are no specifics with regards to what a person does outside of the Board but as a Board member, regardless of their career of the Board they would be covered just as any other Board member would.