| Forrest T. Jones & Company Group Insurance Administrator Providing insurance programs to associations and groups since 1953 |
| Association
Professional Liability
If any of these key coverages and policy features are missing, your non-profit D&O coverage may not have the protection you need.
We developed the Non-Profit D&O plan only after careful study of the legal and administrative issues surrounding non-profit organizations. Each of these key coverages reflects the realities you face every day. Covers all directors, officers and employees, including staff, volunteers and committee members. Other D&O policies only may cover officers and directors. This is an unrealistic view of the non-profit environment, where exposure to litigation about administrative decisions can extend throughout an organization. Defense expenses reimbursed on a current basis, or, if applicable, duty-to-defend. Employment practices legal actions often require a quick response. Either of these features allows you to mount an immediate and vigorous defense. Under the reimbursement coverage, legal costs are paid as they are incurred and under duty-to-defend coverage, the insurer will retain and pay your defense counsel. Entity coverage. Traditional D&O policies only cover lawsuits brought against individual directors and officers. However there is a growing trend toward legal actions being taken against the organization itself. Another variation is a single lawsuit brought against the organization, entity and individual employees. If the D&O policy does not include entity coverage, any claims against the organization itself will not be covered. Reflecting yet again the real world of non-profit D&O exposures, we have the ability to offer entity coverage as an affordable extension to our policy. Entity coverage comes with a Contractual Exclusion which spells out the exposures the D&O policy does, and does not, cover. Coverage for wrongful termination and employment-related practices. The basic form provides this coverage for insured people, including defense expenses. It's extendable by endorsement to include both entity and emotional distress coverage. Prior acts coverage (no retroactive date restrictions). Other policies may include a specific retro-date that limits the insurer's coverage of prior wrongful acts. By simply eliminating the retro-date, our D&O provides coverage for acts as early as the organization's creation. Non-cancelable by the insurer. Our policy explicitly states that once the premium is paid, it can only be canceled by the insured. Provides coverage for claims brought by insured people. Other D&O policies exclude claims brought by insured people since most non-profit D&O actions stem from employment-related disputes, eliminating this exclusion provides for greater protection than available from policies containing this common exclusion. Broad discovery option. Other D&O policies restrict the discovery option to cases where the insurer cancels or non-renews. Our D&O allows insureds to elect discovery even when the insured itself cancels or non-renews coverage. (This option is commonly referred to as bilateral discovery.) This description of coverages is intended as a general overview and does not represent how directors and officers liability coverage or other coverages will respond in every situation. Please read all policy language carefully for coverage terms and conditions.
application back to the top contact us home Copyright©
2001 Forrest T. Jones & Company |
||||
