|
|
|
"Security
First"
Non-Profit
Directors & Officers
Liability Insurance
Overview
No
organization is exempt from today's growing array of management liability
exposures - or the skyrocketing claims costs and damage awards that
can accompany management liability suits. No insurance company understands
these exposures and
equips organizations to respond to them - better
than our insurer, AIG.
AIG
has been tailoring management liability policies for both small, local
organizations and the largest national associations for more than
25 years. Today, we offer these organizations and those who serve
them the broadest D & O liability insurance, the most expansive
EPL insurance, and the only third party discrimination protection
available anywhere, in a single, cost-effective policy: Not-for-Profit
Protector®, ground-breaking coverage designed exclusively
for not-for-profit organizations.
Not-for-profit
organizations can also benefit from CrisisFund®
for Non-Profits, an innovative policy endorsement that enables Insureds
to harness the expertise of the nation's top crisis management public
relations firms to help protect their organization's reputation and
avoid D & O lawsuits.
Features
-
Broadest
definition of Insured, including Organizations :
-
Directors
-
Officers
-
Employees
-
Committee
Members
-
Volunteers
-
Faculty
Members
-
Department
Heads
-
Broadest
employment practices liability coverage, including: broadest definition
of Employment Practices Claim
-
Non-employment
discrimination coverage - covers discrimination and sexual harassment
claims brought by third parties (e.g. students, patients), whether
brought individually or as a class
-
Broadest
definition of Wrongful Act, including: Employment practices claims;
copyright or trademark infringement claims, anti-trust claims, plagiarism
claims, third party (non-employment discrimination) claims
-
Optional
Duty to Defend (Insured has the choice of controlling defense or
giving Insurer the Duty to Defend)
-
Unique
retention waivers:
-
No
retention in event of financial insolvency
-
100%
retention reimbursement upon a finding of No Liability
-
10%
retention reimbursement upon acceptance of first qualified Settlement
Opportunity
-
Automatic
for-profit subsidiary coverage
-
Coverage
for multiple damage awards under the ADA and Equal Pay Act
-
Punitive
or exemplary damages coverage available
-
Coverage
for back pay and front pay
-
Pre-judgment
and post-judgment interest coverage
-
Provides
pre-approved, elite class action defense law firms
-
Policy
non-cancelable by Insurer (except for nonpayment of premium)
-
Bilateral
discovery Optional one-, two-, or three-year
-
Discovery
Period Spousal Extension coverage
-
Worldwide
coverage
-
30-day
post-policy reporting window
-
Insured
vs. Insured exclusion applicable only to claims made against an
Insured by the Organization.
Submission
Requirements
Please
submit a completed Policy
Application to Safe Passage International, along with the following
documents:
-
Constitution
and By-laws.
-
List
of Directors, Officers and Trustees
-
Latest
annual report with audited Financials, (if audited financials are
not available, please submit a Treasurer's Warranty Letter guaranteeing
the Organization's financials).
-
Latest
EEO-1 report.
Insurance underwritten by member companies of American International
Group, Inc. The description herein is a summary only. It does not
include all terms, conditions and exclusions of the coverage described.
Please refer to the actual policy for complete details of coverage
and exclusions. Coverage may not be available in all jurisdictions.
|
%20copy.jpg)
