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The Line on Pricing

A nonprofit organization and its directors and officers face similar risks as a for-profit board of directors, and might have more to lose. But more and more, for a variety of reasons, nonprofits seem to realize the exposures.

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D&O coverage is typically sold in a bundled package with Employment Practices Liability insurance. Limits, which can be shared or segregated, vary by size of the nonprofit, but are usually $1 million, $3 million or $5 million, says Sal Pollaro, managing director for Markel Corp. Limits can reach into the tens of millions of dollars for the larger nonprofits.

Coverage is on a claims-made basis. A departed board member remains covered so long as the nonprofit’s D&O coverage stays active.

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