Just like any other business, nonprofit organizations need the right type of insurance coverage. Threats and claims can be brought on by employees, vendors, donors, competitors & even government regulators. Nonprofit organizations file twice as many Directors & Officers claims as private and public companies do – 85% of these claims filed are employment related.
The type and level of risks that nonprofit organizations face significantly vary. There are many types of insurance and the type of insurance needed depends on the activities that are conducted. Besides the obvious choices like general liability and health insurance, a nonprofit may need insurance coverage for events, volunteer activities, malpractice, and products.
The most common types of insurance nonprofit organizations carry are:
- General Liability Insurance
- Health Insurance
- Directors’ & Officers (D&O) Insurance
- Professional Liability Insurance
- Product Liability Insurance
- Property Insurance
- Commercial Auto Insurance
- Crime Insurance
- Cyber Liability Insurance
- Workers Compensation Insurance
The first step in determining what type of insurance is needed is to look at the most common risks that the Nonprofit may face. Let (Agency Name) help look at your unique needs and help you determine what coverage may be needed for your nonprofit organization. (Phone Number)