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QIA board covered

The board of directors of the Qikiqtani Inuit Association has voted to purchase liability insurance.

At their board meeting in Qikiqtarjuaq last week, the directors voted to buy about $1 million worth of coverage for $3,500.

The coverage will act as a safety net, said the association’s comptroller John French, to protect directors from any lawsuits that could be laid naming individual directors personally liable for such things as breach of fiduciary duties, wrongful dismissal or employee discrimination.

French said the possibility of such lawsuits is slim, but legal costs from even frivolous suits can add up.

QIA board members did not have liability insurance before the meeting, and board members of its parent association Nunavut Tunngavik Incorporated also hold no liability insurance on directors.

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