Nonprofit Law Podcast #21: Nonprofit insurance

Nonprofit insurance

Download: Nonprofit Law Podcast #21 (mp3, 9:30)

Shownotes

Intro

Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show

What the heck is D&O insurance, and do we need it?
Directors and Officers Insurance
Does NOT cover everything under the sun
Covers breaches of duty to the nonprofit by directors and officers
D&O pays for "wrongful acts."
D&O insurance usually covers:
* Employment-discrimination, harassment, and wrongful termination
* Failure to provide services to parties
* Mismanagement of assets (negligence, etc.)
D&O insurance usually does NOT cover:
* bodily injury
* property damage
* other torts on your premises/property
Other insurance, (usually general liability) covers these claims.

Insurance is lawyer coverage as much as it is claim coverage

Depending on your situation, here's some thoughts on insurance:
General liability may be the better first buy... D&O as you get larger
Consult a good insurance broker with experience in nonprofits
Talk with your state's nonprofit association for more

Resources
Nonprofit Directors and Officers Insurance: The Good, the Bad, and the Ugly - Guidestar.org
Directors and Officers Liability Insurance - NPCCNY
Don Kramer's Nonprofit Issues regarding the Federal Volunteer Protection Law

Closing

Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com

This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.