Sunday, October 27, 2013

Comprehensive Information on D&O Liability for Small Nonprofits


Providing Small Nonprofits with BIG Insurance and Employee Benefits 
There are several programs which can protect your organization, are easy to implement, and may even save your organization money.

As a member of NYCON, organizations are eligible to obtain the endorsed Directors' & Officers' (D&O) Insurance.
 To become a member of NYCON click here.

For over 45 years NYCON has sponsored great insurance programs for itself and its members.  The Directors' & Officers' Liability Insurance offers LIMITS OF LIABILITY at $1 Million or $2 Million.  The endorsed program underwriter is The Chubb Group of Insurance Companies.
Annual Premium Rates for NYCON Members Starting At: 

$675 for $1 Million Limit of Liability* 

$1,075 for $2 Million Limit of Liability* 

 *Pending total number of employees

The features of the NYCON endorsed D&O policy include*:

  • Separate limits for both D&O and EPL coverage
  • Loss only deductible
  • Coverage outside Directorship - This extension affords coverage for an Insured Person serving in the capacity of a director of an Outside Entity.
  • Coverage for claims allegin Wrongful Act; including Employment Practices and Personl Injury not covered under General Liability and Professional Liability insurance policies
  • Coverage for all Directors, Officers and employees; including staff, volunteers and committee members
  • Entity Coverage - Claims may be made against the organization itself
  • Any expenses incurred to defend you are paid for in addition to the limits stated in your policy

Additional Benefit:

Access to a toll-free Employment Practices Hotline.  Participants can call in and speak with a qualified employment practices professional from a nationally recognized law firm.

Rates for NYCON Members Starting At:

$675 for $1 Million Limit of Liability* 

$1,075 for $2 Million Limit of Liability* 


Eligibility Highlights**:  
  • Under $5,000,000 annual revenue
  • Total 500 employees/volunteers or fewer
  • Positive fund balance and operating income
  • Must be an eligible class of business
  • No prior and/or pending claims
  • Operational for at least 12 months
**Must be a New York organization incorporated as a nonprofit with a 501(c) tax status, a member of NYCON and located in NY.

~Note: D&O insurance, which indemnifies an organization and its officers for alleged wrongful acts resulting from the "management and governance of the organization", should not be confused with General Liability insurance, which protects the nonprofit against liability for property damage, bodily injury, and/or personal injury that it allegedly caused.
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For more information, please contact one of our Licensed Account Representatives at (877) 501-4277 or 

Council Services Plus is the Insurance Brokerage Subsidiary of the New York Council of Nonprofits, and provides its members with insurance and employee benefits.

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