Business insurance FAQs
Answers for the people approving the insurance.
We work through these policy details with nonprofit boards and professional firms when comparing commercial insurance proposals.
Can you arrange D&O insurance for a nonprofit?
Yes. We prepare the submission around the nonprofit’s governance and programs, then seek D&O proposals. We explain protection for directors, officers, and the organization, including exclusions that affect its activities.
Is employment practices insurance included in a management package?
It may be, but we confirm the coverage parts actually quoted. We check the EPLI limit, retained costs, and reporting conditions, and explain whether it shares a limit with D&O or another part of the package.
Does the insurance include volunteers?
We check volunteers in the definitions of each relevant policy. Crime and liability cover can treat them differently. We describe their roles in the submission and flag where the proposed terms leave them outside a definition.
Will employee-theft insurance cover a fraudulent payment request?
Employee-theft cover alone may not address a payment authorized after deception. We examine social-engineering and transfer-fraud terms, including required verification steps. We explain any separate limit or exclusion affecting that kind of loss.
What do you check when replacing a claims-made policy?
We compare continuity terms, including prior-acts restrictions and deadlines for notice. We also check how the new policy defines a claim. Changes in those provisions can matter even when the headline limit stays the same.
Do defense costs reduce the insurance available for a claim?
They can if defense expenses fall inside the limit. We point that out in the comparison and show whether other coverage parts share the same aggregate. That helps the organization assess the amount available beyond legal costs.
How do we begin an insurance quote?
Book a call with a brief description of the organization and the date coverage is needed. We will work through the governing structure and activities, help prepare the application, and approach the market for terms.
What should a nonprofit board review before approving insurance?
Put the declarations, endorsements, current governing documents, major funding or venue agreements, and the proposal side by side. Ask who is insured, which limits or retentions apply, whether defense costs reduce a limit, and which exclusions or conditions need a documented answer. This is general education; policy wording, declarations, and endorsements control.
When should a professional firm update its insurance submission?
Update it when the firm adds a service, changes its client or project mix, begins work in a new jurisdiction, changes ownership, hires or changes contractor use, or assumes a new contractual obligation. Keep the signed agreement and current policy forms with the update so the operational change can be compared with the proposed terms.