Significant expertise and infrastructure is required in underwriting nonprofit organizations. From the beginning, many risks are more difficult to comprehend than they initially appear. Insurance agents need access to comprehensive solutions when delivering long-standing service to nonprofits.
Coverages include:
Professional liability
General liability
Automobile
Physical and sexual molestation
Property, inland marine and crime
Umbrella and excess
Optional Coverages*
Volunteer participant accidental and medical expense coverage
Nonprofit directors and officers (D&O)
Cyber liability
* These coverages are placed with A.M Best "A" rated specialty carriers outside of the Liberty Mutual program.
Coverage Highlights
General aggregate limit (per location).
Bodily injury definition; includes mental anguish and mental injury.
Expanded definition of who is an insured
Medical expenses; $20,000.
Additional insured; provides automatic status for others where required by written contract.
Waiver of subrogation (included)
Sexual/physical misconduct coverage; by endorsement with separate limits.
Professional liability; offers a broad insuring agreement that covers the insured without restriction to a specific business, operation, or social service/nonprofit activity.
Vicarious/contingent liability; includes protection for the secondhand liability of the agency for the acts of MDs, psychiatrists, independent contractors, and employee/volunteer professionals by endorsement.
Medical doctors and psychiatrists; primary coverage for employed doctors by endorsement.
Broad form definition of who is an insured.
Occurrence or claims made.
Accounts receivable; described premises $250,000/away from premises $25,000 per occurrence; electronic data processing equipment, media, and data $200,000.
Ordinance or law coverage B and C $200,000.
Spoilage $50,000.
Business income property in transit $50,000.
Money and Securities (in/out) $25,000.
Extended business income no coinsurance; applicable 180 days.
Blanket building/personal property/with business income; may be subject to sublimit.
Includes all additional insureds in the underlying policies (follow form with underlying policies).
Territorial limitations are eliminated.
Occurrence defined as happening during the policy period.
Bodily injury definition includes mental anguish and mental injury.
Some coverages may not be available in all states. Coverage limits vary by state.
IMPORTANT NOTICE: Coverage statements shown are simplified descriptions only. The full and exact contract is contained in the policy. Eligible classes of businesses are limited.
