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The Importance of Non Profit Insurance to Charitable Organizations

non profit insuranceThe Non Profit Community is very important to the Albany, NY and Capital District residents.  Albany, NY and the greater Capital District has ~2,000 not-for-profit organizations serving our wonderful region (FYI… Upstate New York is considered by many world scholars to be the Greatest Place on Earth).

Not to go political but I am a big believer in Community, and not that high on Government.  To that point I believe the impact a small driven non profit organization can make, living and breathing their mission every day is exponentially larger than any government feeding trough…

Non Profit Insurance

The charitable community in the Capital District is very robust.  Upstate New Yorkers, (being the Greatest People on Earth), as very giving with their time, assets, and skills to help non profit organizations thrive.

That being said, charitable organizations can present very unique and dynamic insurance risks.  In the case of individuals volunteering on a Board of Directors, personal responsibility and liability are put on the line with every decision.

This makes volunteering for a non profit organization risky business.  That shouldn’t stop you from participating but makes understanding and protecting against risk even more important.

I have talked before about the importance of NY Directors and Officers insurance and EVERY BOARD OF DIRECTORS no matter how big or small should carry D&O.

Today I began thinking about all of the other non profit insurance exposures and risks that non profit organizations face (including but not limited to General Liability, Fiduciary, Employment Practices, Business Auto, Sexual & Abuse Liability, Crime, Workplace Violence, Internet Liability…) and the effect a large loss could have on an asset strapped not-for-profit organization.

Protecting Your NFP Organization Series

Think about it, one large uncovered or under-covered loss could put a non profit organization right out of business.  Which is not only a loss for the organization and it’s employees but for the community that non profit organization served… Now that is a Tragedy…

Thank you,

Ryan Hanley.

P.S. If you have additional questions regarding non profit insurance policies please call (518) 456-6688 or Click Here to email us.

Image courtesy of David Castillo Dominici /