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The right liability insurance can protect boardmembers


According to the Aspen Daily News, Charlie Bantis, a member of the Aspen Chamber Resort Association, recently suggested increasing the $1 million directors and officers liability coverage for the board due to the size of the events the board puts on.

Bantis told the news source it doesn't take much to be the focus of a liability suit, and ACRA events such as the Fourth of July parade, Wintersköl and the Food & Wine Classic in Aspen make the board a likely target for litigation.

"It’s unfortunate but everyone gets named in a lawsuit," Bantis told the news source. "A million bucks a person is not a lot. You never expect it until a subpoena lands on your desk."

Bantis would prefer a policy similar to the Aspen Ski and Snowboard Club, which carries a $1 million policy for each of its board members and an additional general liability insurance policy that covers up to $4 million per occurrence annually, according to the source.

Another group of board members seeking a fair policy recently approved bids from insurers, according to Virginia's Mount Vernon Register-News. The Jefferson County Board was granted approval for workman’s compensation insurance, liability insurance and employee health insurance.

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