Does your non-profit organization need insurance?
Unfortunately, the answer is yes. Your operation is still liable for injuries, property damage, keeping sensitive data secure and more. If your organization has a board of directors, voluntary or paid, they can also be held liable for the financial viability of the organization. Since many non-profit boards are often giving much of themselves for the benefit of the community, it is essential to ensure their livelihood is protected as well.
What should a non-profit consider when choosing an insurance broker?
In Ontario and beyond, insurance brokers have a long-standing history of being involved in the community. It is something of which, as an industry, we are quite proud. When considering an insurance brokerage, confirm they share a similar giving back philosophy.
A big benefit of choosing an insurance broker over an agent is that insurance brokers have access to several insurers whereas an agent only has access to the company they represent. Every insurance carrier has a set of their own insurance specialties that can include things like specialized claim support, preferred premium rates, policy wordings (what you are covered for) and more. Many of our insurance carrier partners have great programs and policies for non-profit organizations.
Also, getting a clear understanding of the brokerage’s insurance philosophy is important. At Bryson, we are committed to helping your organization succeed by being your insurance partner. We look at potential risks facing your non-profit operation, today and into the future, to ensure all stakeholders are protected for the future.
What types of insurance coverage do non-profits require?
Insurance types differ depending on your operation. For example, a food donation logistics operation, with their own vehicles and a warehouse, would require a different set of insurance requirements than an organization helping new Canadians adapt to life in Canada.
Here are questions to consider for your non-profit organization. If you say yes to any of these questions, you may benefit from a certain type of insurance coverage. Click each question to see the associated insurance policy type. Again, it is best to talk with a member of our team because some of these policies may not be relevant to your operation.