How Insurance Protects Nonprofit Institutions from 7 Key Exposures

How Insurance Protects Nonprofit Institutions from 7 Key Exposures

First nonprofit insurance

While for-profit companies often are stringent in their hiring needs and financials, nonprofit organizations largely rely on volunteer staff and charitable contributions creating unique exposures. First nonprofit insurance helps protect the organization from claims arising from a variety of sources. Insurance allows the organization to continue to work in their communities doing good.

Critical Exposures

Nonprofit organizations must prove to the IRS that their funding is used for charity. Impersonations of the organization, increased administrative costs, loss of funds, painful fines, lawsuits and injuries are some of the side effects associated with the following critical exposures:

  • Reputation
  • Fundraising Fraud
  • D&O Liability
  • Volunteer Staff
  • Theft
  • Special Events
  • Regulatory Compliance

Insurance Coverage Options

Directors and Operators Insurance helps cover personal risks incurred in the operation of the organization and for those whom have left the institution to go elsewhere. A general liability policy and E&O policy offer protection against property damage and injury claims. Additional policies covering a variety of liabilities from cyber crimes to auto accidents to abuse are available.

Nonprofit organizations offer a variety of necessary social services from foster care to cancer research. Protect the good work the organization does with first nonprofit insurance. A licensed agent can help navigate the specific policies the institution needs to cover their exposures.