For instance, your nonprofit’s board of directors and officers (many of whom are volunteers) could be personally named in a lawsuit against your nonprofit alleging fraud or financial mismanagement. In such a case, you’d want directors and officers (D&O) insurance to cover the cost of defending the directors and officers and pay any resulting money damages. In addition, you may need a general liability policy to cover your organization for damages that it’s ordered to pay to someone (such as a visitor, customer, supplier, or associate) who is injured on the organization’s property. These kinds of policies don’t apply to the nonprofit’s employees, who are covered separately by workers’ compensation insurance. Whether you own or rent the space your nonprofit occupies, consider what your organization might lose in the event of a fire, earthquake, vandalism, storm, or similar event. Then, you would want property insurance that covers those risks, making sure it covers not only the building (if your organization owns it) and any equipment or other assets. Each type of nonprofit is different. If you are working with children, you may need to have additional abuse and molestation coverages. If you work with a lot of cash, you may want theft coverage. As your agent, we can walk you through various potential scenarios, and help provide you coverages that make sense for your organization.

What are the insurance policies we recommend for Nonprofits?