Directors and officers insurance (D&O) has an interesting history. In the late 19th century, Lloyd’s of London, a conglomerate of insurance syndicates, developed the current model of D&O liability. But for many years, D&O maintained its popularity primarily within the United States. Around the 1980s, however, the benefits of D&O insurance spread across the ocean…
The now-former board chair of a mid-sized nonprofit organization resigned hastily in frustration. Having identified some management irregularities, he was riding roughshod on the chief executive, who countered with complaints of debilitating micromanagement. Until the chair’s departure, however, the rest of the board remained unaware of any problems. The chair believed it his responsibility to…
Global regulations are increasing, and it’s forcing boards of directors to take an active role in all matters of the company’s business, especially in the areas of compliance with the law and industry regulations. Large swings in the economic climate…
When a powerful entity like Lloyd’s of London moves cyber risk from #12 on its board agenda to #3 just two years later, as they did in 2013, it should serve as a wake-up call for other boards of directors…
Who is responsible for the quality of board reports—management or the board? If you said both, you’d be correct. Boards function best when they receive reports that have enough information for them to develop business strategies for short and long-term…
The federal and state governments reward nonprofit organizations for the good work they do by not requiring them to pay taxes. The trade-off is that all of their funds must be allocated for the purpose stated in their charter. Nonprofit…
Are you muddling through your board meetings only partially following the agenda? Are you having more discussions about how parliamentary procedure works than about pertinent matters? Does each of your board members know that they have fiscal and legal duties…
Philadelphia PA – February 28, 2017 BoardEffect, the leading board management software solution provider for non-profit and mission-based organizations worldwide, announced that it was ranked on Entrepreneur's Top Company Cultures list, a comprehensive ranking of U.S.-based businesses exhibiting high-performance cultures created in…
Hypervigilance rules the day when it comes to a board of directors’ role in compliance and ethics matters. If your board members are not familiar with the terms duty of care, duty of loyalty and duty of obedience, they are…
While it’s helpful to review multiple studies about a particular issue, research about nonprofit board governance issues hasn’t been studied very much. That’s what makes the 2015 Survey on Board of Directors of Nonprofit Organizations by the Stanford Graduate School of Business such an excellent tool. The report brings out some important facts about known…
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