Insurance for Nonprofits
Nonprofit businesses play an important role in our economy, and they have highly specific insurance needs that should never be given short shrift. Every nonprofit is utterly unique to its own mission and makeup, but they all have insurance requirements that should be addressed individually with a dedicated professional who has considerable experience in insurance for nonprofits .
Your Nonprofits' Employees and Volunteers
The success of nonprofit businesses , like all other businesses, hinges on their employees and volunteers. No matter how noble your ideals and regardless of how generous your mission is, it will fall flat without the loyal dedication and work provided by your employees and/or volunteers. Protecting these key players in your business with insurance coverage is essential. It’s important to note that, while your volunteers may perform critical roles on your org chart, they require a different kind of insurance coverage than do your employees. Further, said volunteers can represent unique business risks that must be adequately addressed.
Your Board of Directors
Your nonprofit business is really nothing without its dedicated board of directors, and this makes protecting them critical. This is where directors and officers liability insurance (D&O) comes in – the intent of which is to protect these pillars of your non-profit from personal financial loss that is associated with litigation. The right coverage can minimize each member of your board’s personal financial risk, which makes maintaining your optimal board of directors that much more doable.
It's All about Risk Management
You are running a nonprofit, which means that your laudable intention is to provide a community service. Part of maintaining a healthy nonprofit, however, is continuing to adapt to the evolving community you serve. Yours is not a static endeavor, and the surest path forward involves effectively and efficiently managing your risk while staying true to your mission. The linchpin of this risk management is obviously your insurance coverage.
It’s not about dreaming up those things that are most likely to go wrong and then insuring for them – it’s about procuring categories of coverage that provide you with the safety net you need to protect your assets, your mission, and your people while growing your nonprofit. It sounds like a lot because it is, but a commercial insurance professional will help you analyze your needs and procure coverage that provides you with the level of risk management that allows you to continue reaching for your nonprofit’s highest aspirations.
Find the Insurance for Nonprofits that You Need
Nonprofits are their own breed of business, and they need their own specialized commercial insurance coverage. The experienced commercial insurance professionals at Western Elite have the skill and commitment to help you find coverage that will work for you now and that will evolve right along with your nonprofit business .