- Hawaii Insurance
- Hawaii Insurance
Not-For-Profit Insurance in Honolulu, HI
Not-for-profit organizations fill an amazing role in our society by breaching the gap between government services and the for-profit sector. Not-for-profits range from social services aimed at helping children, the elderly, community causes, or gifting.
We serve not-for-profits with pride because we know that every dollar saved in premium means more jobs, more outreach, more effective use of scarce funds. Not-for-profits face a daunting task of managing people, operations and doing more with less.
Not-for-profits that work with children must have internal policies and insurance coverages to protect against allegations of molestation and abuse of children. This coverage is offered by specialized insurance carriers and is called Sexual Abuse and Molestation coverage. The limits afforded this type of coverage generally speaking should start at $1M per occurrence.
Aside from obtaining general liability insurance not-for-profits that have certified social workers or health-care providers also need Errors & Omissions coverage. If a claim or allegation against a not-for-profit specifies that harm was caused because the employee “should have known better”; that is an E&O claim. If the claim for harm was because of bodily injury or property damage that claim would be a General Liability claim.
Not-for-profits by mandate have a board of directors. Board members are comprised of experts in their fields, concerned citizens, or philanthropists. These directors are giving of their time, money, and expertise. Every not-for-profit needs an adequate Director’s and Officer’s (D&O) policy to give the board members piece of mind should a lawsuit for wrongful acts occur.
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