Nonprofit Insurance Digest

What's Happening with Property Insurance?

As you might have heard, property insurance is getting more and more difficult to get.  This is due to the many natural disasters we have experienced over the last several years. The insurance companies have paid out billions of dollars in losses and are changing their underwriting guidelines in response.  So, what does that mean for your nonprofit?
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Does My Nonprofit need "Umbrella" Insurance?

The primary reasons a Nonprofit organization may need an umbrella (or Excess Liability) policy generally break down as follows: 1) The limits available under the primary liability policies may not be enough to cover the insured's exposure or 2) The organization may enter into a contract that requires limits in excess of the primary liability limits.  Does your organization need more coverage?
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Claim Defense Costs and Your Nonprofit Insurance

Most liability policies contain two key provisions, the duty to indemnify and the duty to defend. Both provisions are critical, but the "duty to defend" concept is often overlooked or misunderstood. However, it is a key factor in the decision to purchase nonprofit insurance of various types and has a significant impact on risk management.
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Insurance and Animal Rescue Organizations

Nonprofit organizations that provide animal rescue or shelter services find themselves in a difficult situation when trying to acquire insurance. Insurance for animal-related organizations is just not readily available. Most insurance companies flat out refuse to insure any organization with significant animal exposure.
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Insurance Broker or Insurance Company - Who does what?

Our nonprofit clients are sometimes confused by the various people involved in creating and providing their insurance program. They aren't quite sure who does what and when to call the "Broker" or when to call the "Insurance Company." It seems like it should be simple enough, but it is insurance, after all...
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Nonprofit Orgs need GL and D&O Insurance Coverage at a Minimum

I am approached by many nonprofits that say they need General Liability, or they need Directors & Officers Liability but not both. However, I always recommend both because these two coverages are the cornerstones of any effective nonprofit risk management and insurance program. These two coverages provide completely different types of insurance protections for your nonprofit organization.  It is […]
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Why Should My Nonprofit Buy Insurance?

For many small or start-up organizations, nonprofit insurance costs seem excessive and the benefits of the coverage nominal. However, the expense of the insurance coverage is outweighed by the importance of having coverage in place. The following are just some of the reasons why all Nonprofits, regardless of size, need to have appropriate insurance coverage.
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5 Ways to Review Your Nonprofit Insurance

It’s important to review your nonprofit insurance policies periodically. The activities and operations of your nonprofit may change over time. And the coverages available to nonprofits may also change over time. As things evolve it’s critical that you manage risk by verifying that your coverage is up to date and addresses the unique needs of your organization. The easiest time to do this review […]
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Failure to Insure - A Trap for Nonprofit Organizations

Many smaller or start-up nonprofit organizations struggle to find money in their budget for even the most basic nonprofit insurance coverage. Over and above the ethical consideration that you protect the community and your clients from damages due to the organization's negligent actions, there is an inherent risk to the personal assets of the nonprofit organization's individual directors and […]
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