Nonprofit organizations need several types of insurance coverage to protect themselves, their interests, and their employees from lawsuits. Some examples include general liability insurance, workers compensation insurance, property insurance, and more. When beginning the insurance coverage process, most nonprofit leaders ask about directors and officers (D&O) insurance first. Many leaders view D&O policies as catchalls […]
Legal risks are not unique to for-profit organizations. Non-profits can find themselves in a variety of legal entanglements in they aren’t careful. The best way to prevent these risks is to understand them. From there, nonprofits can implement strategies to manage these risks. The following are the top legal threats facing nonprofit boards. Social media. […]
Insurance can be expensive, and after investing in general liability, workers’ compensation, errors and omissions (E&O) insurance, and more, many nonprofits may be wondering if they really need directors and officers (D&O) insurance. The short answer is yes. Here are some compelling reasons why: Understanding D&O Insurance The name is a bit of a misnomer […]
Nonprofit leaders often invest in insurance as a means to mitigate risk, but this is not quite an accurate assessment. Insurance policies help manage the financial fallout following exposure to certain risks—it does, however, prevent them. Although combing through the numerous scenarios that can affect a charitable association can make nonprofit managers’ heads swim, it […]
I know that sometimes it’s difficult to fathom that your nonprofit could be sued. You do your best to make sure everything is done correctly and that all your constituents are well cared for.
Your Employees, Volunteers and the third parties you work with all have certain rights under Federal, State, and local laws. Specifically, they have the right to be treated fairly and equitably. Your nonprofit could be subject to a claim or lawsuit if someone in your organization violates these protected rights.
General Information: All nonprofit corporations are vulnerable to a multitude of Directors and Officers (D&O) exposures from a variety of sources. Nonprofit Directors and Officers Insurance is purchased so that competent professionals can serve as supervisors of nonprofit organizations without fear of personal financial loss. It is also purchased to protect organizational assets and the […]
A key part of securing and keeping good nonprofit directors and officers coverage is to ensure that proper board governance is maintained at all times. This sounds easy but in reality can be difficult.
Let’s face it, insurance is complicated. As much as we all would like it to be easy it’s just not. It’s often difficult to know if your nonprofit insurance program has everything you need. The best cure for that is education. You don’t have to be an expert. Just know enough to ask some important […]
Let’s face it, insurance is complicated. As much as we all would like it to be easy it’s just not. It’s often difficult to know if your nonprofit insurance program has everything you need. The best cure for that is education. You don’t have to be an expert. Just know enough to ask some important […]