Specialty Liability Insurance Program (SLIP) and Specialty Property Insurance Program (SPIP) can be Your One Stop Solution!

What type of insurance does a Not-for-Profit organization need?
The answer to this question is not always a simple one, but rather what is the reason they need it, and what is the potential for them to cause harm to someone else, either intentionally or unintentionally?  What is the likelihood that a not-for-profit can afford to pay for expenses associated with a claim out of their own pockets, as well as defense costs?  If you were a board member for an organization, you would want to know you are protected for acts as a board member.  How well am I protected under the insurance program of this organization?

Accidents can occur every day; at your premises, during a fundraiser, at a board meeting or while performing services.  Is your organization; including employees, volunteers and board members, protected against unforeseen accidents, losses, or lawsuits?

Insurance is a mechanism by which you transfer the financial burden of claims and lawsuits to an insurance company and protect the balance sheet of your not-for- profit organization. The most common types of insurance for these organizations are directors and officers, employment practices, auto, general liability and property coverage.

Your organization was created to serve your mission, insurance allows you maintain that focus by protecting the structure of your organization.

Why does a Not-for-Profit need Liability Insurance?
A not-for-profit is a business, a separate legal entity that can be held accountable to the public for its actions, or lack thereof. Claims against not-for-profits happen more often than you might think. Payouts can be high and come with additional risk to the reputation of an organization.

Even though an accident or occurrence can be the result of unintentional negligence, it is still considered negligence. This condition oftentimes leads to an allegation or lawsuit, wherein the officers and directors of the not-for-profit are personally and individually named, placing their personal assets at risk. 

In the U.S. court system, anyone can sue at any time for any reason. Suits against not-for-profits can be groundless or false, but still require a costly and highly specialized defense. If the lawsuit is not answered and properly defended, it is lost by default and a judgment can be obtained against the organization.

Responsibility to the general public exposes a not-for-profit and its individual leadership to an element of risk, which can be transferred to another through our Specialty Liability Insurance Policy (SLIP).

Specialty Liability Insurance Program (SLIP) and Specialty Property Insurance Program (SPIP) can be your one stop solution.

Over twenty years ago, Alliant created these two group purchase programs to solve the insurance needs of not-for-profit organizations that interact with our public entity clients.  These programs provide comprehensive, customizable, cost-effective solutions with lower retentions and deductibles, in comparison to the standard insurance market. These master programs give you access to group purchasing power and coverage that fits your unique needs under one contract/policy, rather than multiple policies and potential costly premiums.

Common misconception: Not-for-profits are covered under the city, county or other municipality policy that they work with or serve.
False. A not-for-profit is a separate legal entity with its own board and is not covered by another agency you work with or on their behalf. A great example of this is the Friends of the Library for a Library District, these are two distinct and separate legal entities and have separate legal responsibilities that do not overlap. Negligence committed by one, does not necessarily mean negligence committed by the other. Therefore, both are not provided protection under the same liability policy.