This general check list may help you when selecting an Insurance provider for your CAC office.
Insurance Carrier
- “A” rated carrier by AM Best, financial category VI
- Expertise in Non-Profit coverage
- Where is claims office?
- Same carrier for general liability, professional liability, auto liability and director’s & officers
Property
- Replacement Cost Coverage
- Adequate Limits to rebuild or replace
- Building
- Contents / Betterments & Improvements
- Computer / Electronic type systems
- Business Income & Extra Expense – coverage for at least 9 months
- Crime / Employee Dishonesty
General Liability
- Occurrence Form, limits of $1,000,000 per occurrence / $3,000,000 aggregate
- No product liability exclusion
- Professional Liability – $1,000,000 per occurrence / $3,000,000 aggregate
- Sexual misconduct / physical abuse coverage – $1,000,000 per occurrence
- Punitive Damages included
- Volunteers are insured
- Host Liquor Liability
- Fund raising events on or off premises included
Automobile
- $1,000,000 combine Single Limit “CSL”
- Any auto coverage “Symbol 1” including hired & non-owned liability coverage
- Hired & Non-Owned Liability coverage
- Physical Damage (if you desire) $500 deductible
Workers Compensation
- Statutory Coverage, including Volunteers
- $1,000,000 Employer’s Liability
- Other states coverage if needed
- Verify claim history against NCCI Experience Modification Factor
Director’s & Officer’s
- $1,000,000 limit
- Entity Coverage – Past, Present and Future D’ & O’s, Employees and Volunteers
- Full prior acts coverage
- Spousal coverage for D’s & O’s
- Employment Practices with Third Party Liability
Umbrella
- $1,000,000 limit
- Coverage over General Liability, Automobile Liability & Employer’s Liability