Opened 17 years ago

Closed 14 years ago

#18 closed task (fixed)

Review D&O insurance needs and options

Reported by: tmitchell Owned by: tmitchell
Priority: normal Milestone:
Component: Board Keywords: insurance
Cc:

Description

  • Have received several pointers from other foundations already

General costs for premiums range from approx. USD$1,000-3,000. Some question about how willing companies are to cover 'small' foundations like ours. Some companies cover local or regionally incorporate non-profits (i.e. policies for non-profits incorporated within a certain state).

  • Next step is to contact the companies directly to see about options in pricing, coverage and availability.

Change History (6)

comment:1 by tmitchell, 17 years ago

Status: new → assigned

comment:2 by tmitchell, 17 years ago

Re-adding with proper wiki formatting

  • Have received several pointers from other foundations already
    • General costs for premiums range from approx. USD$1,000-3,000. Some question about how willing companies are to cover 'small' foundations like ours.
    • Some companies cover local or regionally incorporate non-profits (i.e. policies for non-profits incorporated within a certain state).
  • Next step is to contact the companies directly to see about options in pricing, coverage and availability.

comment:3 by tmitchell, 16 years ago

Priority: major → normal

Reintroduced this lately and will discuss at next finance meeting. Needs to be represented in the budget.

comment:4 by tmitchell, 15 years ago

This item is cursed. All agents who work on this file mysteriously disappear from their firms. I'm working with the 4th agent at my second company. Need to follow up to keep the ball rolling. They usually send away the application and merely broker the deal which takes an annoying amount of time apparently.

comment:5 by tmitchell, 14 years ago

Another Canadian broker got stuck and couldn't ultimately find the coverage we required. The challenge was with the nonprofit nature of our 'business'.

I have completed paperwork for more quotes on 22 March, 2010 and have been back and forth with a US-based broker that looks promising.

comment:6 by tmitchell, 14 years ago

Resolution: → fixed
Status: assigned → closed

Can you believe I finished this?!

Broker at ​http://chapmanins.com/ helped me out greatly. Many underwriters weren't interested in our business I think we are still too small ;-)

I've lined up and paid for D&O and an international business liability as well. More details to follow on board list.

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