The rise of law suits against nonprofits makes it imperative that all nonprofit organizations protect their assets (and continued viability) through the purchase of appropriate liability insurance policies.

Most nonprofit organizations purchase several types of insurance. Insurance policies often arrive in the form of thick policy books with significant small print, conditions, exclusions, and the like.

The number of insurance options available is significant and includes:

• general liability
• property
• professional liability
• hired and non-owned automobile liability
• crime
• employment
• directors and officers
• workers’ compensation
• umbrella coverage
• foreign travel

Since 9/11, the sexual abuse scandals and the stock market crash, insurance companies are paying out more claims, receiving much less on their investments, and as a result raising premiums to ensure a profit for their shareholders. It is therefore essential that your organization is able to identify which coverages are needed, obtain regular competitive bids, and keep abreast of industry trends and opportunities.

How we help our clients:

• Identify key areas of exposure
• Identify and work with a third party broker with experience in your organization’s area of exposure
• Identify coverage options and a recommendation based on your organization’s exposure and risk tolerance
• Develop and implement a risk management strategy (including model policies and procedures) which addresses insurance policy requirements, conditions, and exclusions
• Create on-line risk management training for all leadership levels of your organization
• Provide on-going advice on insurance industry trends, alternatives to current insurer, cost projections, etc.
• Negotiate with carrier