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Directors & Officers (D&O) liability insurance program specifically for TAM members.

Volunteers, employees, and others involved in museums are exposed to potential lawsuits that can involve their personal assets every day.

Tour the World of Liability Insurance

TAM Policy Highlights

D&O Policy Pricing

Protecting All your Assets - Fiduciary Liability

Fiduciary Liability Insurance

Program Sponsors

Download Application

My institution would like to apply now.

IMPORTANT: Follow these four steps when filling out the application:

1) Print out this form
2) Fill out the application form.
3) Find your premium under the pricing section and submit your check payable to: The John A. Barclay Agency, Inc. (For certain activities as shown, an additional premium may apply.)
4) Mail application and check to:

The John A. Barclay Agency, Inc.
PO Box 2274
Austin, Texas 78768

Home > Membership > DOEO Insurance Program

Directors & Officers (D&O) Liability Insurance Program

Tour the World of Liability Insurance

If someone slips and falls in a museum, that's covered by general liability because the accident involves bodily injury. General liability policies may also cover claims for libel, slander, and property damage where insurable by law. But, if the executive director of a museum sues the board for unfair dismissal, that's a situation that can be covered in a D&O liability insurance policy. Consider the following:

A museum secretary sued the members of the museum's governing board, alleging that the museum curator had sexually harassed her, and the trustees were negligent in the selection of the museum curator, as well as in failing to supervise his activities.

United States Liability Insurance Company's (USLI) D&O insurance program specifically created for the members of TAM offers coverage for all past, present, and future directors, officers, trustees, employees, and volunteers for a number of common exposures, including hiring and firing decisions, employee supervision, and misuse of funds. USLI's D&O insurance can protect against the financial damages of a lawsuit, including defense costs, which can be substantial.

Optional coverage for Fiduciary Liability Insurance is also available, in conjunction with this D&O program for TAM members.

TAM Policy Highlights

D&O Coverage features:

• Rates guaranteed for 3 years
• Program in effect for more than 15 years
• $0 deductible with $1,000,000 limit of liability (higher limits available).
• Defense costs paid in addition to limit of liability.
• Duty to defend.
• Coverage for all past, present, and future directors, officers, trustees, employees, and volunteers, as well as the organization itself.
• Employment practices liability coverage for claims such as wrongful termination, discrimination, and sexual harassment.
• Third party discrimination and harassment coverage included.
• Lifetime extended reporting coverage for retired individual insureds.

D&O Policy Pricing

Revenues up to $1,000,000, annual premium: $800
Revenues from $1,000,001 - $2,000,000, annual premium: $950

Above $2,000,001 will submit to underwriters

Applicant must have written acquisition/management/insuring conservation/lending/deaccessioning policies for its collection.

Protecting All your Assets - Fiduciary Liability

A fiduciary is any person who exercises discretionary authority or control with respect to the benefit plans of an organization. As a fiduciary, one can be held personally liable for the losses to a benefit plan. Therefore, a fiduciary must act with skill, care, prudence, and due diligence, and conduct these duties solely in the interest of the plan participants. Imagine the following occurring in your organization:

The Department of Labor (DOL) sued an employer and its administrative committee for breach of fiduciary duties resulting from the organization's purchase of group annuity contracts from a now-defunct life insurance company. The DOL alleged that the defendants based their choice of annuity provider on the lowest bid without conducting an adequate investigation of the bidder's financial stability, creditworthiness, or claims-paying ability. The case ultimately settled, with $4.07 million being paid into an escrow for distribution to the participants. The DOL dismissed its claims against the members of the administrative committee, although plan participants may still bring their own suits.

USLI offers Fiduciary Liability Insurance to protect fiduciaries and the benefit plans they represent against liability claims. Coverages include, but are not limited to, coverage for sections 502(i) and 502(l) of the Employee Retirement Income Security Act (ERISA), and omnibus welfare benefit plan coverage.

Fiduciary Liability Insurance

USLI's Fiduciary coverage is designed to cover a wide range of fiduciary exposures relating to benefit plans. Fiduciary coverage requests will be reviewed and priced individually.

Program Sponsors

This program is sponsored by:

The John A. Barclay Agency, Inc.

PO Box 2274

Austin, Texas 78768

Phone: 512/476-6566

Fax: 512/472-8382
E-mail: info@barclay-insurance.com

Professional Lines Underwriting Specialists, Inc.
716 Congress Ave, Suite 200

Austin, Texas 78701

Phone: 512/474-0404; 800/880-1019

Fax: 512/474-0505

My institution would like to apply now.

IMPORTANT: Follow these four steps when filling out the application:

1) Print out this form
2) Fill out the application form.
3) Find your premium under the pricing section and submit your check payable to: The John A. Barclay Agency, Inc. (For certain activities as shown, an additional premium may apply.)
4) Mail application and check to:

The John A. Barclay Agency, Inc.
PO Box 2274
Austin, Texas 78768

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