Staying Current on Insurance Issues Confronting Nonprofit Organizations

For most nonprofit organizations, the importance of insurance is old news. Too often, that appreciation stops at the headline and remains frozen in the past. Nonprofit organizations, their directors and their executives, sometimes assume that broadly named form insurance policies cover their potential liabilities without reading the fine print. When disaster strikes that fine print can make the difference between a nonprofit organization receiving its bargained-for insurance benefits and dipping into its own reserves. Jeff Tenenbaum, D.S. Gray, and Aaron Merki of Venable LLP will explore the needs that nonprofit organizations satisfy with insurance, coverage gaps that often creep into policies, and how nonprofit organizations can address those threats to their sustainability. They will also cover emerging issues and recent developments with respect to coverage – invaluable information for nonprofits and their advisers concerned with minimizing risk and loss.

Authors

Agenda

Introduction - the Five W's and H of Nonprofit Insurance Coverage

Why Does a Nonprofit Need Insurance? Why Does It Need to Understand That Coverage?

• Inherent Risks
• One Size Does Not Fit All

What Types of Insurance Policies Should a Nonprofit Consider?

Who Should Be Insured? Who Should Be Involved in That Determination?

• Nonprofit Organization
• Its Broker
• Its Carrier
• Its Insurance Coverage Counsel

To Where Should That Coverage Extend?

• Past, Present, Future Activities
• Choice-of-Law Considerations

When Should a Nonprofit Organization Consider Insurance Coverage Issues?

• Baseline Assessment
• Reassessments
• Renewals

How Can a Nonprofit Organization Protect Its Interests?

• Consider Insurance to Be Part of an Overall Risk Management Program, Not the Risk Management Program
• Insurance Must Evolve With a Nonprofit Organization and Its Risks
• Scope of Coverage
• Exclusions
• Conditions

Questions and Answers

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