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With large numbers of Baby Boomers now retiring, many may want to give back to their community and stay active by serving as a volunteer board member of a local charity. They may not realize, however, that their commendable behavior exposes them to the risk of being sued. Board members can be held personally liable for the actions or inactions of the charitable organization, even if the board member is unpaid. In an ACE survey of households with at least $5 million in investable assets, 44 percent of those who were serving or had served as a volunteer board member did not have proper coverage in place.

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