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What’s Included in a Nonprofit Commercial Package

Oct 11

Your nonprofit organization specializes in serving and helping others. A lawsuit or other liability could inhibit your organization’s ability to continue operations, though. You need a nonprofit commercial package with invaluable protection that meets your needs as you help others.

What a Nonprofit Commercial Package Includes

The right insurance provides invaluable protection for your organization. Look for several types of coverage when shopping for a nonprofit commercial package.

    • General Liability InsuranceWhen visitors or clients are injured from a fall, slip or accident on your property, your organization is liable for medical payments and other damages. General liability insurance offers classic slip-and-fall coverage for any unfortunate accidents.
    • Property InsuranceNatural disasters, fires, vandalism and other risks can happen at any time. Property insurance pays for necessary repairs and minimizes operation disruptions to the property your organization owns or rents. This insurance can cover:
      • Computers and accessories
      • Equipment and machinery
      • Fixtures, including carpeting and lighting
      • Inventory and supplies
      • Office furniture
    • Auto InsuranceAny time your staff or volunteers drive a company or personal vehicle for organization activities, your nonprofit is liable for accidents or damages. Purchase adequate auto insurance that includes liability and any coverage your state requires, such as personal injury protection or uninsured/underinsured motorist coverage.
    • Product Liability InsuranceYour nonprofit may sell products to raise funds for your cause. Examples include items your clients create or baked goods. Property liability insurance protects your organization financially if someone suffers an injury or other damages because of a product you sell.
    • Directors and Officers InsuranceNonprofit organizations rely on the leadership expertise of directors and officers. These men and women could be sued for fraud, financial mismanagement or other things, though. Directors and Officers insurance covers defense and damage costs.
  • Professional Liability InsuranceWhen someone files a discrimination, mismanagement or sexual harassment lawsuit against your organization, the nonprofit is liable for related costs and damages. Professional liability insurance, also known as errors and omissions or malpractice insurance, is similar to Directors and Officers insurance but covers your entire organization, including staff and volunteers.

In addition to these six coverage options, your nonprofit commercial package may include:

  • Abuse Liability
  • Cyber Liability
  • Loss of Business Income
  • Misconduct
  • Negligence
  • Special Event Insurance
  • Umbrella Coverage
  • Volunteer Medical Expense Coverage
  • Workers’ Compensation

Your organization needs customized insurance that meets your needs, fits your budget and protects your assets. Contact your insurance agent today for a customized quote and more information on the Nonprofit Commercial Package that’s right for you. It provides invaluable protection that allows you to address risks while continuing to serve others.

Understanding Nonprofit Professional Liability Insurance

Oct 04

Professional Liability insurance for nonprofits, also known as Errors & Omissions (E&O) insurance kicks in when your nonprofit is sued for professional negligence. Being sued for professional negligence means your advice or a professional “mistake” caused someone harm. If you are found liable, and you are not carrying nonprofit E&O insurance, well it could be more than your nonprofit can handle.

For example, you run a nonprofit helping your community with business skills. You and your volunteers spend their time helping others build a resume, apply for jobs and learn key business programs. One of your volunteers coaches a community member on an interview, which in turn was bad advice and the member didn’t get the job. The community member could sue your nonprofit for negligence or that you failed to perform your duties. Regardless of you or your volunteer’s intention, it’s important to have the proper protection in place in the even that a lawsuit occurs.

While you can operate legally without Professional Liability insurance, you will run into some client contracts that will require you to carry E&O. It’s better to have the policy in place sooner rather than later, as most policies have a “claims-made” coverage. This means that your policy must be active when the incident occurred in order to take advantage of your coverage.

It’s important to discuss you options with an experience agent, who understands the needs of your nonprofit. The experts here at Raley Watts and O’Neill can craft a customized solution to ensure your nonprofit is protected and continues to bring good to the community.

Do Nonprofits Need Workers Compensation?

Feb 10

As an owner of a nonprofit, you spend most of your time trying to help others and make your community better. Your employees and volunteers help make your vision a reality, but they also need your protection. Depending on the goals of your nonprofit, your employees and volunteers could be exposed to some big risks. No one intends to get hurt, but when they do, it’s best to ensure you have the right coverage to help. Nonprofit workers compensation will help cover expenses for lawsuits and medical bills in the event an employee or volunteer has a work-related injury.

Having an adequate workers compensation policy for your nonprofit organization isn’t the only way to help protect your employees and volunteers. Below you will find some tips on additional ways you can protect them:

  • Provide training and materials on your safety for your industry.
    • First Aid Training
    • Proper Lifting Techniques
  • Invest in safety equipment and proper ergonomic furniture.
    • Repetitive motion and improper posture from poor furniture is a large cause for injuries in the office
    • Ensure your employees have access to proper protective equipment for their duties

Understanding who needs to be covered and what kind of coverage you need, depends on your nonprofit and your state laws. Contact us today to discuss workers compensation options available for your nonprofit.