Re: [AGA SC] Insurance quote

["S. Hieber" <shieber@yahoo.com>]

Except for fiduciary coverage, we might want to hold off on
other insurance until such time as forums are pending.
Those are the two main areas of risk for which we are most
likely to to need protection, imo.

Since we employ no one, and don't expect to, Employment
Practices coverage seems unnecessary. We do enter into
"contracts" with contractors such as printers, be we don't
hire an employees. If we did, I think we'd be filing
quarterly reports with the tax folks.

Btw, does the Liability Limit apply to each Officer or is
it, for example, $500,000 in total, which could equate to
about $71,000 each if a liability claim was brought against
the entire Board.

sh
--- Cheryl Rogers <cheryl@wilstream.com> wrote:
> I would like to know whether Kathy's friend Rusty would
> also be willing to 
> provide a quote. E&K have been away for a few days, and I
> promised to poke 
> Kathy about it when she got back. I don't know whether
> they're back yet, 
> but I poked her anyway, just now.
> 
> So I think we should get insurance, but naturally I think
> we should get the 
> best deal possible. :-)
> 
> Meanwhile, can you tell me more about what sorts of
> things the various 
> insurances cover? Talk to me like I'm really slow,
> because I know nothing 
> about this, but I think it's important to understand what
> actions we are 
> covered for and what actions are beyond coverage.
> 
> Cheryl
> 
> David Lass wrote:
> 
> > Hi all --
> > Here is the quote for Non Profit Directors and Officers
> Liability Insurnace
> > Limit            Annual Premium        Retention   
> > $500,000            $856                        $0
> > $1,000,000           $1,070
> > $2,000,000            $1,605
> > etc for higher amounts I really don't think we need.
> > Once we have the above insurance in place we can add
> Employment 
> > Practices Liability
> > Limit            Annual Premium        Retention   
> > $250,000            $144                        $0
> > $500,000            $201
> > $1,000,000        $224
> > In addition we can get Fiduciary Liability Coverage
> (which I think is 
> > what we have on the Treasurer) for an added annual
> premium of $100. I'll 
> > find out more about this Monday.
> > Please someone make a motion that we either take the
> insurance or that 
> > we table this for now so I can get it off my desk.
> Thanks.
> > David


=====
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