NON-PROFIT ORGANIZATION INSURANCE
The nonprofit sector provides support to a range of industries and interests. Why not concentrate on the work that is most important and let CSP focus on protecting the people and the property that make your organization a success.
The list below includes the most common types of insurance recommended for non-profit organizations. It is by no means exhaustive. You should contact a CSP representative who will be able to tailor a suite of coverages that best fits your needs.
Commercial General Liability Insurance (CGL)
CGL steps in when mistakes happen. It will cover costs associated with your legal defense and settlement expense when an individual opts to pursue legal action related to injury to themselves or their property while on the premises.
CGL may also extend to locations temporarily occupied by your organization. These can include but are not limited to venues for fundraisers, 5K races among many others.
Commercial Property Insurance
CPI protects both the physical structure and its fixtures. Even if your offices are leased, it is important to maintain property insurance for the protection of your contents.
If your organization utilizes leased or owned vehicles as part of normal operations, you should consider including commercial auto in your suite of coverages. Commercial auto policies include both liability and physical damage coverage regardless of the size of your fleet.
An umbrella policy adds extra cushion to your current liability policies (general, sexual misconduct, auto, professional) if you were to exceed the existing limits.
Employment Practices Liability Insurance (EPLI)
EPLI steps in when employment related claims are brought against an organization. These may range from unlawful termination to harassment. No matter the issue, this coverage will cover your legal defense and any related matters.
Director and Officers’ (D&O) Liability Insurance
Your board members and executive director play an important role in helping your organization operate efficiently and effectively. Make sure to protect them with a D&O Policy.
Fundraisers or other large scale events that involve multiple vendors on location or at an offsite venue are commonplace in the nonprofit sphere. Event insurance protects you in case of cancellation or postponement due to a number of factors. This particular policy may also cover liquor liability, theft of certain valuables, lost deposits, and additional liability coverage.
Volunteer Accident Liability
Many nonprofits rely on volunteer support to conduct business. Why not extend the same protections to them that you would to a typical employee? Volunteer accident liability acts similarly to workers’ compensation. It extends financial support to volunteers in case of physical injury.
In case of a data breach or theft, this particular policy helps you respond immediately and may offer long term support in the form of credit monitoring to the impacted parties. This type of policy is especially important if your website accepts pledges or donations containing constituents’ sensitive information.
Sexual Abuse and Misconduct Liability
Non-profit organizations actively work to prevent these types of horrendous events. Despite your best efforts, these things occur. Your general liability policy may not include coverage which is why it is important to have a sexual misconduct liability policy in place.
Does your non-profit organization cater to a unique interest not listed above? Call our agents today and let us tailor a coverage package to fit your specific needs.