In
a world where lawsuits seem to be commonplace, it is more important than ever
to have the appropriate commercial insurance coverage in place. Every nonprofit is unique and there is no ‘magic’
online button, or a one-size fits all insurance program for your nonprofit.
If
your agency offers advice or provides professional services, it is imperative
to carry Professional Liability Insurance (also known as Errors & Omissions
or E&O). If your organization is sued for negligence for errors and/or
omissions while performing your professional services, your professional liability
policy can help cover settlements and judgement expenses and attorney fees up to
your policy limits.
Professional Liability vs. Directors & Officers Insurance:
There is a common misconception that a Directors and Officers (D&O) policy may be all you need. These two types of coverage may seem similar on the outside, but the main difference is who is covered.
Your D&O policy provides insurance brought on by a
'breach of duty' or wrongful act allegations and lawsuits arising out of
the managerial decisions of board member(s), officers, employees and sometimes volunteers. Professional Liability insurance provides insurance for claims arising
from errors and/or omissions made against the organization.
About
Hawley & Associates
Hawley & Associates is solely in existence to provide specialized insurance
solutions for social service and nonprofit organizations across the country and
the world.
Our
mission is to empower your mission by providing the most comprehensive and
cost-effective insurance program and tailored risk management solutions
that perfectly align with your unique operations and exposures. Less time
and money spent on insurance means more of both to dedicate to the children,
families and communities in which you serve.
We
strongly believe in the industry we serve, and to us it's much more than
insurance - it’s about relationships. We are an extension of your organization
and an unwavering champion in supporting the great work that you do.
