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Campbell Risk Management
Nonprofit Directors' & Officers' Insurance
The Farmers Market Coalition and Campbell Risk Management have teamed up to offer a Directors and Officers insurance program available exclusively to FMC members. If you are not a member of FMC, please visit their web site for membership information.

A nonprofit organization is operated for the benefit of some group of persons. Those individuals, together with employees, creditors, customers, members, state regulators, etc. are all potential plaintiffs against the directors & officers of a nonprofit farmers market due to mismanagement or wrongful acts.

The fundamental responsibility of directors & officers is to judiciously represent the interests of the organization’s members and other constituencies in directing the business and affairs of the organization within the law.

D&O insurance responds to protect a farmers market for the insured perils surrounding an allegation of a wrongful act. An important feature of a D&O insurance policy is defense costs coverage. The costs associated with defending an allegation of a wrongful act can easily and quickly exceed $50,000. 
 
Need more information? 
For a quick quote and application please click the link below.

Here are a few examples of claim exposures that illustrate the need for insurance covering directors and officers of farmers market organizations:
 
Allegation of Wrongful Acts
Conflict of interests
Fraudulent conduct, reports, financial statements or certificates
Breach of contract
Torts (A wrongful act in the absence of a contract)
Violation of a statute
Violation of provisions of articles or by-laws
Improper self-dealing (Acting in your own interest instead of the farmers market; for example, transactions with companies in which officers or directors are personally interested)

Allegation of Financial Mismanagement
Inefficient administration resulting in losses
Sale of assets for unreasonably low prices
Wasting of assets
Extension of credit where not warranted
Failure to ascertain whether extension of credit is warranted

Allegation of Mistakes or Errors in Judgment
False or misleading reports
Dissemination of false or misleading information
Permitting the organization to make improper guarantees
Allegation of Negligence
Continual absence from meetings
Failure to examine reports and documents before signing
Failure to detect and stop embezzlement of organizational funds
Failure to file annual report
Failure to require withholding tax
Failure to inspect organization books and records to keep abreast of its activities
Failure to supervise the activities of others in a proper manner
Failure to verify facts in official documents before signing them and filing them
Shirking responsibility

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