Directors and Officer's Insurance
The DANA Directors & Officers (D&O) Liability Insurance Program features insurance provided by Executive Risk Indemnity and is being sold through Gorges & Company, Incorporated. Coverage is only available to qualified 501 (c) nonprofit members of DANA.
THE DANA D & O PROGRAM
Standard Coverage: The DANA D&O Program provides limits beginning at $1 million and deductibles as low as $500 for premiums starting at $1000. The plan has been carefully reviewed to assure that it contains the best features available in the D&O market. Special features include:
- Coverage for Staff, Volunteers, and Committee Members: Many D&O policies only provide coverage for the Directors and Officers. But the DANA D&O Program also provides coverage for all employees, volunteers, and committee members working for your organization.
- Coverage for Your Organization: Many D&O policies only provide coverage for individual people, and don't provide any coverage for your organization. The DANA D&O Program also provides Association Coverage ("entity" coverage) to protect your organization. Coverage is provided for claims brought against your organization. This coverage may not be available under your general liability policy or under a traditional D&O policy.
- Coverage for Employment Practices: Many D&O policies provide no coverage for employment discrimination, wrongful termination or other claims involving your employment practices. Yet these are the most likely subjects raised in suits against your organization and your board; over 70% of lawsuits brought against nonprofits are related to employment practices. The DANA D&O Program specifically covers employment practices.
If you are interested, download and complete the application, attaching copies of:
- the determination letter from the IRS
- the most recent audit or IRS Form 990
- and a copy of the front page of your current D & O insurance policy
Please give a written explanation for any materials not provided.
We will contact you for more information or notify you of the application's approval and a start date. All invoicing will be done by Gorges & Company, Inc.
If you have additional questions or would like more information, please contact Nancy Hall at DANA via e-mail at nhall@delawarenonprofit.org.
PRODUCT COMPARISON |
DANA
|
YOUR CURRENT PLAN |
| Covers all directors, officers, employees, including staff, volunteers, and committee members. |
|
|
| Pays defense costs on a current basis, rather than reimbursing expenses after settlement or advancing them at insurer's sole option. |
YES |
|
| Duty to Defend (Executive Risk provides a qualified attorney once the claim is made and pays all bills on a current basis after any deductible is met). |
YES |
|
| Coverage for wrongful termination and employment-related practices. |
YES |
|
| Spousal extension included. |
YES |
|
| Prior acts coverage (no retro-date restrictions). |
YES |
|
| Entity coverage available. |
YES |
|
| Provides coverage for claims brought by insured persons. |
YES |
|
| Some personal injury coverage included. |
YES |
|
| Admitted carrier (no surplus lines taxes). |
YES |
|
| Non-cancelable by the insurer once paid in full |
YES |
|
| Limits of coverage (ability to quote to $25,000,000) |
$1,000,000 |
|
| Deductible for most groups |
$1,000 |
|
| Annual Premium beginning at |
$750 |
|
Other resources to help you succeed:
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