This is typically the “core” coverage for an organization. The most common occurrence covered by this policy is “slip and fall”. The extent of a general liability policy can include coverage for a wide range of negligent acts that result in bodily injury, personal injury, advertising injury or property damage to a third party. General liability policies typically will not include coverage for damage to property under your control.
Social Service Professional Liability provides coverage for negligence, errors and omissions as a result of professional and peer counseling activities. While it may, depending on the policy, cover nurse practitioners and the dispensing of medications, it is not true malpractice liability coverage. The policy is typically insufficient for organizations with medical malpractice exposures.
This coverage should provide defense to the named insured and their employees, volunteers in the unfortunate incident if a named insured is wrongly accused of negligent improper sexual conduct behavior. Some insurance professionals may imply that the coverage is included, providing that the coverage is not excluded in the policy. Be sure that your policy is written to provide specific limits for this coverage. If you are told by an insurance professional that this coverage is included, demand that it is put in writing.
Directors & Officers Liability, aka D & O liability, is intended to cover the wrongful acts of intentional decisions made by the Board of Directors of an organization. These actions may be in error and wrong, but they are, nonetheless, “intentional” acts. Most other types of insurance policies will not provide coverage for “intentional” acts. Among the items, a good directors and officers policy should include broad coverage for all types of employment related actions, including wrongful termination, harassment, discrimination, failure to hire, etc. It should also pay defense costs as they are incurred rather than on a reimbursement basis. This coverage is not provided on a standard form and each company can provide terms per their own policies. Be sure you are working with a broker or agent who is experienced in selling this coverage.
This coverage is recommended to all organizations that require employees or volunteers to use their own vehicles on behalf of company business. The purpose of this policy is to provide coverage for the organization in the event that the organization is held liable for the actions of their employee or volunteers. This coverage is offered on an “excess” basis. Depending on the insurance company providing the coverage, a procedure must be in place to verify that all drivers have their own automobile policy in force with adequate limits.
This coverage is purchased when the organization owns the automobiles. A broad commercial automobile policy should include coverage for liability, comprehensive and physical damage, non-owned/hired automobile and un-insured and under-insured motorist. The liability portion of the policy will cover damage to other vehicles or property and injury to others for accidents for which you are at fault. Auto physical damage covers repair of vehicles that the organization owns. Non-owned/hired auto liability as described may be purchased as part of the business auto insurance if your organization owns vehicles. Uninsured motorist coverage may be purchased with a business auto policy and this coverage affords protection for accidents involving un-insured or under-insured motorists.
Property coverage is purchased to protect the physical assets that you own or lease such as buildings, office equipment, furniture, fixtures, etc. There may be a special type of coverage that the organization needs to purchase for property in transit, mobile equipment, fine arts, etc. When purchasing this coverage, it is important to have a thorough inventory of all physical assets; and then make sure that the property is accurately valued and that adequate coverage limits are purchased. Many property policies have a co-insurance penalty for under-insured property limits. Also it is extremely important to note that in the event of a property loss and if your property is under-insured, the insurance company will apply a co-insurance penalty to any claims settlements. Also, determine and be sure to understand the valuation of property, such as replacement cost, actual cash value or agreed value.
Employee Dishonesty coverage is intended to provide a source for recovery of funds embezzled by employees. However, many nonprofit and social service organizations utilize contractors for their accounting purposes. We highly recommend to be sure the coverage is extended to included contractors.
Employee Benefits Liability is intended to cover damages that may arise from potential errors or negligence in handling the administration of your employee benefits program.
True to its name, umbrella coverage provides higher limits for a variety of coverages. For example, an umbrella policy may increase the limits of coverage for the underlying policies, such as the commercial general liability policy, a business auto policy, and a directors and officers policy simultaneously.
Workers compensation is mandated for all employers. Workers compensation coverage is provided to cover the cost of injury and loss of time as a result of an employee being injured on the job. Volunteers may be added in some cases, however, many organizations purchase accident coverage to cover incidents involving volunteers and participants.
Accident Insurance provides a limited amount of coverage for injury to a student, volunteer, and participant (depending on the specific coverage purchased), and coverage is offered on a no-fault basis. Under commercial general liability it is typically necessary to establish fault before a payment is made. However, accident insurance typically pays regardless of fault, and may engage prior to an individual’s health insurance or in excess of it, depending on the particular policy.
A policy that protects an organization against intentional theft by insiders, as well as theft of assets by third parties.
Commercial property insurance that covers loss of income when slowdown or suspension of an insureds operations results from a covered cause of loss.
Commercial property insurance that covers additional costs, in excess of normal operating expenses, that incur when an insured needs to continue operations while it’s property is being repaired or replaced after being damaged by a covered cause of loss.
This covers your business’ liability for a data breach in which customers’ information, such as Social Security Number or Credit Card numbers, are exposed or stolen by a hacker or criminal who has gained access to the client’s electronic network. First Party Coverage provides coverage for the insured and Third Party Coverage provides coverage for parties other than the insured, ex. their clients.