Are You Ready for a $2 Million Lawsuit?

Are you one staff or volunteer accident away from a $2 million claim?

Last year I sat on a jury where the plaintiff's attorneys asked for $2 million over a car accident in which the airbags never went off and the plaintiff walked away without a scratch. The jury awarded nothing, but it drove home something I see in my client work all the time: a million dollars of coverage is not what it used to be, and many nonprofits are underinsured or uninsured in places they've never looked.

In this episode, I walk through more than a dozen types of insurance your organization might need, from general liability and D&O to employment practices, cyber, hired and non-owned auto, and umbrella coverage.

Then I share three moves to close the gaps, make insurance renewal simpler, and give your board visibility into managing your risk.

This episode answers questions like: 1. What insurance does my nonprofit need? 2. Is $1 million of liability coverage enough for a nonprofit? 3. Does our D&O insurance cover employee lawsuits? 4. What happens if a volunteer has an accident driving their own car? 5. Will insurance cover an employee stealing money from our nonprofit? 6. Should a nonprofit use more than one insurance broker?

Links mentioned in this episode: 1. Is your nonprofit exposed without EPL insurance?: https://successfulnonprofits.com/is-your-nonprofit-exposed-without-epl-insurance/ 2. Board retreats and board development: https://successfulnonprofits.com/build-the-board-you-need/ 3. Executive coaching for nonprofit chief executives: https://successfulnonprofits.com/individual-coaching/ 4. Curious about a board retreat or executive coaching? Reach out to me using the contact form: https://successfulnonprofits.com/contact-us/

Looking for more? Check out these other amazing episodes: 1. Thinking Ahead with Joan Dove: https://successfulnonprofits.com/portfolio/risk_and_insurance_dove/ 2. How to Prevent a Data Breach at Your Nonprofit with Spencer Pollock: https://successfulnonprofits.com/portfolio/cyber_security_pollock/ 3. It Is Almost Always Someone You Trust with Tiffany Couch: https://successfulnonprofits.com/portfolio/it-is-almost-always-someone-you-trust-a-conversation-with-forensic-accountant-tiffany-couch-author-of-the-thief-in-your-company/

Join the live virtual audience for podcast recordings (and bring your question for the Q&A). Topics, guests, and times are announced in my newsletter, and you can sign up at this link: https://successfulnonprofits.com/newsletter-signup/