PRODUCTS

Insurance products sold or provided by Colorado Nonprofit Insurance Agency are listed below.

If additional information is desired beyond what is provided on our site, contact us. We are here to answer your insurance questions and are pleased to serve you.

Property/Casualty:

  • Commercial General Liability (GL)This is the basic coverage that is necessary for nonprofit operations, events and fundraisers. GL gives you protection in the event that your negligence results in Bodily Injury, Property Damage, or Personal Injury. Personal Injury is harm that is not physical, but damages a person’s reputation. It includes libel, slander, false arrest and infringement of copyright.
  • Directors & Officers Liability (D&O)Protects the directors for allegations that the board made a bad decision, or did not fulfill their responsibility regarding oversight of the nonprofit, its finances, or its employees. D&O also includes Employment Practices Liability (EPL) which protects against suits brought by employees for wrongful termination, discrimination, harassment, etc.
  • Improper Sexual Conduct Liability (ISC) Provides coverage for allegations of sexual misconduct either by an employee, a volunteer, or one client against another client. This is essential coverage for any nonprofit who works with “at risk” clients: youth, elderly, or disabled clients would be in this category.
  • Social Service Professional Liability (SSP)This gives the nonprofit coverage for negligence and errors and omissions that result from professional and peer counseling activities. While this is not true malpractice coverage, this is essential for all nonprofits that work with clients in a counseling or mentoring capacity.
  • Commercial Auto CoverageThis is liability coverage for all owned vehicles and covers damage to other vehicles and injury to others for accidents where you are at fault. It includes Uninsured/Underinsured Motorist coverage to provide protection for accidents involving uninsured or underinsured motorists. This policy can also include Auto Physical Damage (APD) to cover repair of vehicles you own. APD includes Collision Coverage – which covers damage due to any collision with another vehicle, regardless of who is at fault. It also includes Comprehensive Coverage which is protection for everything except a Collision (theft, vandalism, glass breakage, etc.)
  • Hired and Non-Owned AutoOrganizations who do not own vehicles need this coverage if their employees or volunteers ever use their own vehicles on company business. This provides liability in excess of the individual employee’s or volunteer’s auto insurance. If the nonprofit is held liable for the individual’s actions involving the accident and the limits of the personal auto policy have been exhausted, the coverage will be engaged.
  • Employee Benefits LiabilityThis can be added to the general liability policy and is intended to cover damages from your organization’s negligent handling of the administration of your employee benefits program.
  • Cyber LiabilityProvides protection for nonprofits who are storing sensitive customer data electronically. Cyber risk and data breaches now affect millions of records a year. All nonprofits subject to HIPAA compliance rules need this coverage. In addition, many states require companies to notify all of their clients if a breach is even suspected and to take the necessary steps to correct the situation. More and more you hear of companies who have their data bases hacked and personal data compromised. Even a stolen laptop puts your nonprofit at risk of data being stolen. The costs involved in resolving this type of data breach can be astronomical and many policies do not provide this protection.
  • Umbrella LiabilityThis policy provides higher limits for a variety of underlying general liability coverages. Limits typically are from $1,000,000 to $10,000,000 and the follow form coverage can include: General Liability, Auto Liability, Directors & Officers Liability, Social Service Professional Liability and Improper Sexual Conduct Liability.
  • Professional LiabilityThis coverage is intended for professions that do not fit under the Social Service Professional Liability coverage. Many nonprofits are now providing professional services to their clients. The types of services that typically need professional coverage are: Doctors, Nurse Practitioners, Psychiatrists, Attorneys, Architects and Engineers and Accountants. If your nonprofit has professionals that provide these services, you need true Professional Liability coverage.
  • Commercial PropertyThis is protection for the physical assets that your nonprofit owns or leases. This can include buildings, office furniture and equipment, computers and any other tangible property at risk of loss. Be sure that you have coverage for your property off premises, so that laptops, cameras, recording and projection equipment are covered away from your premises. The coverage should always be written as Replacement Cost, with Special Form coverage (including theft), which means that there will be few exclusions. It is important to be sure that adequate limits are purchased.
  • Flood Insurance:All property insurance policies exclude damage from flooding. (Flooding includes: damage from surface water, overflow of a body of water, mudslide, water that backs up through a sewer or drain, or water seeping through foundations, basements, doors, windows or other openings.) Flood Insurance is written through The National Flood Insurance Program (NFIP) administered by FEMA. Even a very heavy rain can create damage that is not covered under standard property insurance, but can cost the nonprofit thousands of dollars. If you believe your organization is at risk, it is worthwhile to contact your agent about this coverage.
  • Building Ordinance or Law Coverage:If you own your building, this provides three additional coverage options. The first is coverage for loss to the undamaged portion of the building. The second is for demolition costs and the third is for increased cost of construction due to changes in building regulations and codes since the original construction of the building.
  • Property – Extensions of Coverage:In the event that your property is damaged and your office space in uninhabitable, you need to have these extensions of coverage to be sure that you do not incur the expense of getting your doors open immediately, so you can continue to serve your clients. These extensions include: Extra Expense Coverage to cover costs to move to another temporary location, Loss of Income to help with any loss of revenue that occurs, Personal Effects and Property of Others at your location, Valuable Papers coverage (the cost to reproduce/recreate records that are lost).
  • Inland Marine:Provides coverage for property off premises. Generally includes a schedule of the equipment covered and the value for each item.
  • Equipment Breakdown Coverage:This is an optional property coverage that you should review with your insurance agent. This provides coverage for explosion of a steam boiler and also provides coverage for inspection of the boiler and includes mechanical breakdown unless caused by normal wear and tear. This coverage can be expanded to include air conditioners, freezers and other equipment in your building.
  • Spoilage:This is a key reason to look at equipment breakdown coverage. For nonprofits such as food banks, meals on wheels and senior centers, the expense of a freezer breaking down and all the food inside being spoiled can cost hundreds of dollars. This is an essential coverage to protect against that loss.
  • Crime Coverage:There are several types of policies that provide crime coverage. The most common is Employee Dishonesty and Forgery and Alteration. This coverage should also include dishonesty by volunteer workers. Theft by an Independent Contractor (bookkeeper, accountant, etc) is excluded. Theft of Money & Securities (In/Out) is frequently included in crime coverage.
  • ERISA Bond:If you manage your nonprofit’s profit sharing/retirement plan you are required to carry this bond. This is normally written for 10% of the balance in the fund and is issued as a three year bond.
  • Cyber Fraud:This is the newest threat against nonprofit organizations. Hackers may access your computers and obtain your bank logins and passwords and then strike when your bank balances are at their highest and when they have the least chance of being discovered. So they may access all your accounts on a Friday evening and transfer the balances to an offshore account. Commercial bank accounts are covered by the Uniform Commercial Code (UCC) and as a result, commercial account holders have shorter reporting timelines, less protections and significantly higher liability for fraud. This means much of the responsibility for protection rests with the nonprofit – not the bank. The risk particularly extends to safeguarding against ACH and wire transfer fraud, check fraud, account takeover and protecting your business’ banking credentials. In a recent study, 59% of defrauded businesses suffered losses without reimbursement. This is an insurable risk and should be discussed with your agent.
  • Volunteer/Participant Accident Coverage:Provides coverage for accidental injuries to volunteers and participants on a no-fault basis. It is not workers’ compensation coverage. For injuries to be paid under the General Liability policy, it is necessary to establish fault. Accident coverage does not require that the nonprofit be at fault and normally applies as excess over the individual’s health insurance policy. In the absence of any health insurance, the accident policy pays for injuries subject to the deductible on the policy.
  • Workers’ Compensation:Colorado law requires that if any wages are paid, workers’ compensation coverage must be in force. The penalties for not having this coverage if an employee is injured are severe. Even Independent Contractors must either be covered under your workers’ compensation coverage – or be a sole proprietor who has elected to opt out of this coverage.

 

Workers’ Compensation

Employee Benefits:

  • Health
  • Dental
  • Vision
  • Life
  • Disability
  • Flexible Spending Account & Health Reimbursement Arrangement
  • Voluntary/Supplemental Benefits
  • Online Health & Wellness Program

Individual Insurance:

  • Individual Health Insurance