Insurance agents provide Directors Officers (DO) liability insurance to both for-profit (public and private) companies and non-profit organizations, and in many cases do not consider the possibility of bankruptcy. The primary purpose for buying DO insurance is to protect the personal assets of the Directors and Officers, especially when the organization is not in a position to indemnify the Directors and Officers. Bankruptcy creates additional and complex duties for Directors at a time when the organizational indemnifications are worthless (presumably,...