Minimum Insurance Checklist - CACip

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