Protect Your Nonprofit and Your Volunteers Against Claims


Protect Your Nonprofit and Your Volunteers Against Claims

If you run a charity or other type of nonprofit organization that makes use of volunteers, your regular liability policy won’t protect them if claims are brought against them. Both your organization and your workers could be held liable to costly legal fees and settlements. It’s essential to find the right liability policy to protect all involved.

What Insurance Policy Will Protect Your Volunteers?

Volunteers insurance is the best way to protect your volunteers and your investment. Having adequate coverage also attracts the kind of volunteers you want representing your nonprofit. You can tailor your package to cover the unique needs you face. Examples of coverage include:

  • Personal accidents – With the right coverage, volunteers who are injured while representing your organization may be compensated for medical expenses and damages caused by the accident. If the volunteer is unable to work their regular paying job as a result of the accident, this insurance may also pay a portion of their regular wages.
  • Volunteer boards – If you include a professional indemnity clause in your policy, any high-ranking volunteer board members and directors are protected against claims of negligence, slander or defamation.
  • Public liability – This coverage offers protection to your paid employees, volunteers and your organization in the event of third-party property damage or personal injury.

It’s imperative to understand the coverage offered in your volunteer liability policy so that you are protected in any circumstance.

Flood Insurance

Tips for Selecting Private Flood Insurance

Predicting the weather can be downright impossible. Unfortunately, the elements play a huge part in the security of your home. In the event of a flood or other natural disaster, you run the risk of losing everything if your residence is directly impacted. Thankfully, insurance is what is meant to offer you peace of mind when faced with the unknown. Consider these points when picking out flood insurance and you’ll have a better time making the right decision.

Factors To Consider With Flood Insurance

There are a few important factors to consider when it comes to private flood insurance in Texas. For example, you want to take the overall value of your home into consideration. Additionally, some homeowners will add collectibles and other expensive items to the list of insured items to make sure all fronts are covered in the event of water damage. Certain counties put restrictions on when a policy goes into effect after being started, so get a feel for local laws to know what to expect. Additional points to consider include:

  • Location of your residence
  • Number of years owned
  • Current state of structure

Protect Your Residence

By thinking about your insurance options early, you can keep your home safe from whatever waits on the horizon. Look into flood insurance and get a better feel for what is right for your family.

Market Insurance

3 Important Steps To Take When You’ve Been Placed Into Forced Market Insurance

If your mortgage company has suddenly placed you into forced market insurance, you may be wondering what it is and what to do about it. Lender placed hazard insurance is a policy that the financial institution holding your lien takes out to cover losses while your underlying policy is not in effect. There are three important steps you need to take following such notice. Important steps you need to take following such notice.

Contact Your Lender

Reach out to your mortgage company to ask why the policy was placed. It could be that your insurance company hasn’t sent proof, or you could be unaware that your underlying policy has lapsed. Either way, it will help you to know how to proceed.

Contact Your Insurance Carrier

If your lender said the policy lapsed or they didn’t receive proof of insurance, call your insurance company. You may have forgotten to send the payment or the money was disbursed incorrectly from your escrow account. Whatever the explanation, it is important to rectify the situation with them.

Secure Proof of Coverage

Once you’ve sorted it out with your insurance company or your policy is back in force, it’s important to send proof of insurance to your lending institution right away. Upon receipt, the mortgage company will be able to cancel the lender placed hazard insurance and issue a refund, if appropriate.

If you’ve been notified that your lender has secured insurance on your behalf, don’t panic. If you know the steps to take once notified, you can quickly settle the matter.