Org Toolkit: Insurance 101 for Nonprofits

Nonprofits are small businesses, even if their primary objective is not to create a profit. As such, proper insurance coverage is vital to protecting the people and assets that help the nonprofit fulfill its vision. While no two nonprofits are alike and not every nonprofit will need the same insurance, there are several types of insurance policies that nonprofits should consider.

During this Org Toolkit, attendees can learn about the importance of insurance for a nonprofit organization and why it is needed. It is important to know what coverages you have to protect you from an unexpected risk. We’ll break down all the different liabilities a nonprofit can encounter as well as business, personal, property, and auto coverage. The coverage descriptions mentioned in the presentation will provide a broader vocabulary so that organizations can make more informed decisions.

In attending this workshop, organizations will be able to mitigate risks by more effectively using insurance as a key risk management tool. Attendees will be able to evaluate current insurance carriers against key ratios set by industry to ensure cost-efficiency. Organizations will be able to assess insurance options to determine the appropriate amount of coverage for their organization. In conclusion, attendees will be able to gain the insight needed and learn the best practices to improve insurance programs.