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| Contra view: D and O insurance: helpful article
Posted by Wise Guy   on 10/20/2008, 10:26 am, in reply to "Re: D and O insurance"
I disagree with this posting. Most donors or funders or govt's never know of, or inquire, about D&O - or general liability or other insurance. (Exception can be large gov't grants)
There is a good article, with claims data, on nonprofit D&O, and other coverages in a recent Blue Avocado e-letter from Nonprofit Insurers Alliance (name?). Google "Blue Avocado."
I would recommend that a small (operating budget under say, $100,000) or a very new nonprofit may not be able to justify D&O expense of $750-$1500. Rather, Board should focus on sound fiscal and personnel (if any) oversight and practices. Then when budget reaches say $200K+, explore D&O. Depending on activities, program, general liability could be more essential (and expensive) upon start up. It is true that some board members, esp. those experienced serving on larger orgs. or lawyer/corporate types may balk at serving w/out D&O. But education can help them see issue. Or these members may just be too cautious for a start up.
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