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|Directors & Officers Insurance|
Directors & Officers Insurance (D&O) and Employment Practices Liability Insurance (EPLI) are key components to a nonprofit’s risk management program. D&O insurance indemnifies directors & officers of nonprofits for damages/defense costs arising from lawsuits alleging "wrongful acts.” These policies also reimburse nonprofits for any indemnification that their bylaws or state laws require. Many individuals are reluctant to serve on a nonprofit board without D&O insurance. Without this coverage, the individual may be forced to pay damages out of their personal assets.
EPLI coverage protects the nonprofit from EEOC type allegations: Wrongful Termination, Failure to Hire or Promote, Discrimination, and Sexual Harassment are all insured under this coverage. Many nonprofits do not have a full time HR staff to guide them with these employee issues when situations arise. EPLI coverage is their risk management safety net.
D&O and EPLI coverage are often purchased together and limits may be shared or separate depending on the insured’s preference.
Please contact Scott Durbin at email@example.com for more information.