Insurance Made Simple Blog

Why Your Nonprofit Needs Directors and Officers Liability Insurance

Posted by Elizabeth Wightman on Tue, Oct 22, 2013 @ 07:00 PM

The primary role of nonprofit Directors and Officers Insurance is to maintain financial stability, provide the necessary resources, direction, and vision to help accomplish the goals and mission of the organization. The unique nature of nonprofit organizations presents Directors and Officers with difficult challenges in performing this role.

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Topics: insurance for nonprofits, D&O Insurance, nonprofit insurance, directors & officers liability, directors insurance

Nonprofit Directors & Officers Insurance and Your Personal Liability

Posted by Elizabeth Wightman on Mon, Jan 16, 2012 @ 06:47 PM

We get a ton of questions about how Nonprofit Directors and Officers Insurance works and who is at risk, when they are at risk and when they are at risk.  I’ve culled out the top three most common questions and provided brief answers to help you better understand the issues at hand.

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Topics: insurance for nonprofits, D&O Insurance, nonprofit insurance, directors & officers liability

Nonprofit Insurance - GL vs. D&O Insurance Coverage

Posted by Phil Wightman on Tue, Jan 25, 2011 @ 06:27 PM

With so much insurance industry jargon thrown around by brokers sometimes it's hard to understand the distinctions between insurance coverages for nonprofits.  Two key coverages in the nonprofit insurance arsenal are General Liability Insurance and Directors and Officers Insurance.  They both provide very different yet critical coverage.

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Topics: insurance for nonprofits, D&O Insurance, nonprofit insurance, directors & officers liability, general liability insurance

Directors and Officers Liability: 3 Case Studies

Posted by Phil Wightman on Thu, Dec 16, 2010 @ 06:18 PM

The truth is that we don't see very many Directors and Officers Liability insurance claims and when we do they are usually related to an employment situation.  However, when we do see a claim they are usually quite large and take a long time to litigate. 

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Topics: D&O Insurance, nonprofit insurance, directors & officers liability, directors insurance

Non Profit Insurance and the Volunteer Protection Act

Posted by Elizabeth Wightman on Thu, Nov 04, 2010 @ 02:26 PM

We get a lot of questions from Nonprofits about whether or not they need nonprofit insurance and specifically Directors & Officers Insurance.  Many believe they don't need it because they are protected by the Volunteer Protection Act either at the Federal or State level.

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Topics: insurance for nonprofits, D&O Insurance, nonprofit insurance, directors insurance

3 Key Board Practices that Effect Your Nonprofit D&O Insurance

Posted by Elizabeth Wightman on Tue, Oct 12, 2010 @ 07:50 PM

A good Board of Directors is almost as good as the funding in terms of running a nonprofit organization.  A key part of your nonprofit insurance is the Directors and Officers Liability Insurance Coverage.  This is generally very easy to get and usually fairly inexpensive.  However, this can change in an instant if there is a claim and/or the insurance company sees that your Directors & Officers do not employ good board practices.

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Topics: insurance for nonprofits, D&O Insurance, nonprofit insurance

Directors Insurance: Do you understand the risks your board faces?

Posted by Elizabeth Wightman on Mon, Aug 09, 2010 @ 07:33 PM

Nonprofit organizations cannot survive without a strong board of directors.  However, having a board of directors comes with certain inherent risks associated with electing officers, adopting organization policies and making financial decisions.  Even when acting in good faith volunteer board members can make mistakes and sometimes these mistakes can affect their personal financial status.

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Topics: insurance for nonprofits, D&O Insurance, Business Insurance, directors insurance

     

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