Some non-profit board members do not think about insurance until an unpleasant incident occurs. Nonprofit Organization Insurance is essential for all non-profit agencies. During tight times, it is only natural to reduce insurance coverage a lower priority. However, this tactic can be unwise.
Ninety percent of claims against a nonprofit organization are for accidents or injuries associated with an accident at a nonprofit location or event. The remaining claims are the result of inappropriate employment practices and professional errors. Together these claims amount to a large financial burden that, without insurance coverage, would be paid straight from the non-profit agency.
All active members of the nonprofit board of directors need to realize there are risks to operating any nonprofit, and these risks can be reduced through Nonprofit Organization Insurance. Nonprofit organizations should have insurance for injuries caused by and to volunteers. Because nonprofits often serve as a gathering place in their communities, Non-Profit Organization Insurance is essential to protect their staff and volunteer workers. Since they also work with children, the developmentally disabled, and fragile seniors, protection need to be in place in advance of allegations for allegations of sexual or other abuse.
Lawsuits are typically filed when a person is hurt in an accident they believed the nonprofit organization is responsible. For example, a person tripped because the entrance mat was not properly secure or a person was injured in a car accident because someone in a non-profit van ran a red light.
If one of these scenarios occurs, are you prepared to pay out-of-pocket for litigation and settlement expenses? Nonprofit Organization Insurance helps to minimize the financial impact of these types of issues.
There are several types of Non-Profit Organization Insurance coverage which each institute needs...
All nonprofit organizations should acquire a general liability policy to protect the organization when a person is injured or damage occurs on their property. Organizations that do not have office space are also at risk for premise liability claims at events hosted by the nonprofit organization.
General liability insurance protects the company against claims of bodily injury, advertising injury, and property damage. It can save the business from the financial setback from a claim or lawsuit, saving the company thousands or even hundreds of thousands of dollars.
Commercial Auto Insurance should also be considered in the event a volunteer or employee is involved in a vehicle mishap and their private insurance is insufficient. Organizations which employee at least one person who drives on behalf of the organization should be adequately covered.
The number one rule for drivers is they are responsible for the safety and welfare of all passengers, pedestrians, and other drivers. Without sufficient Nonprofit Organization Insurance, the organization is at a huge financial risk if the vehicle is involved in an accident.
Any organization that has a paid or volunteer board of directors should have Directors and Officers Liability insurance to protect its members against management decisions made while working in a board capacity. This type of insurance can be instrumental and necessary to attract and retain the right caliber of board members.
Due to the large number of wrongful termination lawsuits filed in our courts, if an organization has any employees Employment Practice Liability insurance is essential. The most common claims are for harassment, discrimination, and wrongful termination claims. These are filed because an employee believes the board took improper action.
Vancouver’s Davidson & Associates Insurance knows that Non-Profit Organization Insurance is essential all nonprofit organizations. Don’t wait another minute! The longer you wait the greater your risk. Submit the fast and simple quote form on this page today to get the peace of mind you deserve!