However, dropping your coverage can cost you more than you think. Here’s why:

1. If you drop coverage now, it will be as though it never existed.

Directors & Officers (D&O) and Employment Practices Liability (EPL) policies are written on claims-made policies, meaning that coverage must be in force at the time of the claim to be covered. Even if your policy was active at the time, if a claim is brought against you after you’ve let your coverage lapse, it won’t be covered by that policy. Keeping your coverage is the best way to protect yourself against future claims.

2. Insurance protects your organization’s assets, as well as the personal assets of individual decision makers.

Remember, even frivolous claims can cost you time and money to defend yourself.

3. EPL coverage has never been more vital.

As a result of rising social and political movements (#MeToo), workplace harassment lawsuits are sharply increasing. EPL coverage responds when employees sue companies, alleging discrimination, sexual harassment, wrongful termination.

4. Buying and keeping D&O coverage is a much better option than relying on the Volunteer Protection Act for help.

The Act/Law does not prevent a volunteer from being sued. In addition, compensated individuals (the most obvious being compensated employees and directors or officers) are not provided protection under the law.

5. You get easy access to our risk management library.

When you’re insured with Victor, you get access to important information to help you take control of your risks. We also provide valuable tools that help you improve your employment practices procedures.

6. Non-Profit D&O coverage can provide added protection (for a premium) that is very beneficial for the organization’s professional employees and the organization itself.

Some ancillary coverages may include protection against anti-trust allegations and claims stemming from services provided such as certification, peer review, accreditation, and the publishing of newsletters and trade journals.

7. Victor has been writing non-profit D&O and EPL coverage for almost 20 years.

• Our underwriters are some of the best-trained in the industry, they understand the non-profit industry.
• We provide rapid turnaround for quotes and a wide range of risk management resources to help you avoid risk.

8. Who will be with you if a claim is brought against your firm?

When you’re a Victor policyholder and a lawsuit is brought against you, we’ll match you with an experienced defense attorney who will fight for your organization.