Charitable Foundations and Your Insurance Policies

Your organization may have set up a charitable foundation. That entity should be listed on all your insurance policies.

By design, a foundation is not a subsidiary by the standard definition used by most insurance policies. While you may have common board members, your board is not the board of the foundation. Your bank does not “control” the foundation.

Some financial institutions buy separate directors and officers insurance for their foundation. I think that is overkill. Name the foundation on your D&O and call it good.