No. Directors who are interested in protecting themselves from liability can do so by being covered under Directors’ and Officers’ Liability insurance (D&O).
D&O protects directors and officers from liability claims related to their actions as directors or officers. Directors’ and Officers’ personal liability for wrongful acts (alleged or otherwise) has increased substantially in recent years, whether the corporation they’re a part of is public, private or non-profit. This particular type of insurance is the Directors’ or Officers’ best opportunity to protect themselves from risk.