Learn why your non-profit needs director and officers liability insurance.
When it comes to your non-profit business, it’s important to get all of the coverage that you need. While it’s important that you take out a commercial property and a professional liability policy, it’s also important to protect your employees. Workers’ compensation is a must, but don’t forget about director and officers liability insurance coverage. While you may think that non-profits aren’t in need of D&O liability coverage, think again. Get the coverage that you need, and check out why your non-profit needs D&O liability insurance.
Lawsuits are Common Practice.
In today’s world, lawsuits are an everyday occurrence. In a world where anyone can be sued at any time, it’s important that you get the coverage that you need. As a director or an officer of a non-profit, where lawsuits are on the rise, a lawsuit can seriously affect your personal assets without the right protection. Ensure that your non-profit organization invests in the right coverage so that you’re ready for any unforeseen mishaps.
When it comes to getting the right protection for your directors and officers, ensure that you have a wide range of coverage. From duty to defend coverage which helps to settle claims fairly to full entity coverage which helps to cover the whole company and not just the directors and officers, choose a policy that tailors your coverage to your non-profit’s needs.
Non-Profits vs. For-Profits.
While D&O liability insurance has been a staple in for-profit business plans, it’s on the rise when it comes to protecting non-profits. Whether there’s an issue with hiring and firing or a disagreement when it comes to your non-profit charter, D&O liability insurance is a must. When you have the right coverage, you’re better equipped to handle any disasters.
Find out what you need to know about director and officers liability insurance for your non-profit. Contact the professionals at NorthStar Risk Management & Insurance Services, Inc. in Walnut Creek, California for all your commercial and personal insurance needs.