GoodWorks Insurance

nON-PROFIT insurance

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Work with an independent insurance agency that understands your organization and has a unique corporate mission that embraces charitable giving! Goodworks Insurance has the ability to create a package of insurance uniquely designed to fulfill a wide range of special insurance needs for the non-profit sector as defined under IRS Code 501(c)3.  Because of the wide-ranging area of need in this category, each policy is custom tailored to address each insured’s unique exposures.  We are able to secure separate limits of General Liability, Professional Liability, and Abuse & Molestation coverage, if needed.  In addition, our insurance companies are able to offer a separate Directors & Officers policy. 

Coverage Considerations

In deciding what the insurance needs are for your nonprofit organization, consider the following:  Almost all of the insurance claims (about 90%) reported by nonprofit organizations are accidents and injuries related to automobiles or slips, trips and falls at nonprofit locations and special events. Interestingly, though, these 90 percent of incidents actually result in only 65 percent of dollars paid out in claims because while slip-and-falls tend to be fairly common, they are usually not large claims involving prolonged litigation. The other 10 percent of claims result from allegations of improper employment practices, professional errors and omissions, or any other “wrongful acts” carried out by a board member.  While less frequent, these tend to be more difficult and expensive claims to resolve and account for 35 percent of claims dollars paid.  Generally speaking, claims for bodily injury (slip & falls) and property damage are covered with a General Liability policy while claims for non-bodily injury (like discrimination and termination) are covered by a Directors and Officers (D&O) policy.

General Liability Insurance

All organizations should purchase general liability insurance, typically thought of as "slip and fall" insurance, which comes into play when someone is hurt or their property is damaged in your office, theatre, clinic or any other area where you may be holding a meeting or event.  Even organizations that don't have offices are subject to claims for damages such as a slip and fall at a program or damage to an antique rug at a home where a fundraiser was held. 

You should also consider "non-owned/hired" auto insurance (a separate coverage endorsement), in case an employee or volunteer is involved in an auto accident while carrying out a duty of your organization and their personal insurance is inadequate.   

Directors & Officers (D&O) Insurance

Directors & Officers liability insurance covers non-bodily injury claims. D&O is protection against a breach of "duty" by the directors and officers.  D&O pays for actual or alleged wrong decisions, what the policy calls "wrongful acts."    D&O insurance generally defines “wrongful acts” as: "any actual or alleged act or omission, error, misstatement, misleading statement, neglect or breach of duty by an Insured Person in the discharge of his/her duties."  Examples of D&O claims include employment-related claims, harassment, or mismanagement of funds.

Many nonprofits are uncertain whether they need D&O coverage. When a person becomes a board member of a nonprofit organization, he or she assumes a level of responsibility for the organization ("duty of care"), and exposes himself or herself to claims for not running and managing it in a proper way or by making decisions that someone can sue them for.   D&O insurance typically protects individual board members as well as employees, volunteers and the organization itself in the instance of a lawsuit.  Organizations that have any employees, even just one, should be fully covered with directors and officers liability insurance.

 Coverage Highlights

Some of the specialized coverage details for your non-profit of social service group include:

 General Liability:

 Directors & Officers Liability:

 Property:

 Business Automobile:

 Umbrella/Excess Liability:

 Other special coverages applicable to the childcare business:

Please call or email our Non-Profit Insurance specialist, Paul Brian for more information at pbrian@goodworksinsurance.com

 

  

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