If you hold a "board member" position, are considering such a position, or are trying to attract high level professionals to your board, the D&O insurance in place to protect board members is an important consideration. The traditional directors and officers policy is often not enough.
This is a "heads up" regarding the extra coverage (beyond traditional directors and officers insurance) that organizations and board members should seriously consider.
What is Directors and officers liability Insurance?
October 9th marks the two year anniversary of the devastating Santa Rosa firestorm. Like thousands of others, the Wallace family lost our home in that firestorm and are still living in its aftermath.
Insurance saved us.
My new motto..."Well-considered insurance coverage, with ample policy limits, is "gold" in the event of a catastrophic loss." It puts you at the front of the line with just about everyone you need to help you post-loss.
This brings us to "homeowners earthquake insurance".
Learn How "Simple Agreements" Achieve Success
In business, success is about getting a few very important things done well.
The top 3 priorities are to wow consumers, increase sales, and maximize EBITDA. Simply communicated, every team member must understand that the work he/she does must drive some aspect of these 3 priorities.
Day-to-day, we want people to eliminate mistakes, prevent drama, and hopefully never need to file a work comp claim...just to name a few.
Here's where transformation begins!
The most successful companies have very specific attributes in common. If incorporated, these attributes can increase the value of any business because they create advantage over the competition that consumers are happy to pay for! We share these attributes here as a guideline on where to focus organizational energy.
7 Ways To Accelerate Business Value
Teach them to "work their way out of a job"
The best team member is the one who understands our business-the industry we're in- and who is passionate about creating value that helps achieve organizational goals!
Successful companies are full of these people.
What's their secret?
Answer: Every team member is learning to master the concept, "work your way out of a job."
Check out this 2019 Harvard Graduation Advice
On May 29, 2019, Professor Jonathan L. Walton, challenged Harvard's graduating class regarding "change". He said, "Change is inevitable. Growth and maturity are optional."
Change has power.
It can ignite fear. There are always unknown outcomes that may or may not occur. Sometimes change comes wrapped in tremendous adversity and loss.
But change also has equal power to do incredible good. In fact, every change brings with it, seeds of great opportunity.