Tramper:
ADK and I think, AMC leaders receive no compensation.
This is actually a good thing. If your outing club insurance does not respond as a safety net in the event of something happening on a trip you're leading, your homeowners insurance would respond. The one exception is an exclusion on most homeowners policies, excluding coverage for "business pursuits". As strictly a volunteer, leading a trip for the good of the community, you'd have the same protection as if you were helping a neighbor and happened to damage his property, or harmed someone. So long as it was accidental, legal and done without charge, you'll have homeowners insurance. That's why I've always advised trip leaders to carry high liability insurance on their homeowners or renters policies.