[Osmf-talk] Treasurer's report for tomorrow's AGM

[Oleksiy Muzalyev]

On 09.12.2016 22:01, Frederik Ramm wrote:
> Hi,
>
> On 12/09/2016 04:28 PM, Oleksiy Muzalyev wrote:
>> On the expense side, in the first three quarters of 2015 [???]
> Correct, that's 2016. Fixed.
>
>> I am also curious about £7,500 insurance. What it covers?
> This is indeed an insurance that only covers the organisation and board
> members against legal threats (and it has global coverage including the
> US). Taking out an indemnity insurance for an organisation that
> crowd-sources and re-publishes geodata on the Internet is more expensive
> than a private indemnity insurance.
>
> Personally I think we're spending way too much on this insurance, but it
> is an important insurance to have as people from certain jurisdictions
> would otherwise not be able to join the board for fear of their personal
> fortune. I would like to speak to an expert on insurance to find out
> whether cheaper options exist, but I have already looked around in the
> UK and not seen anything that was significantly cheaper. The price also
> depends on how many board members there are.
>
> This insurance is actually a legacy of Ulf Möller's - we signed up for
> it at his request.
>
> Bye
> Frederik
>
Dear Frederik,

Thank you for the information.

I definitely agree that an insurance is a worthy investment. And it is 
good to know that it has got a global coverage.

With best regards,

Oleksiy