Affordable and customizable nonprofit Fiduciary Liability insurance.
Whether it’s grant money, donor contributions, or employees’ payroll, benefits, and retirement, nonprofits can’t afford to be anything other than impeccable with their financial practices.
NIA’s Fiduciary Liability coverage is an affordable, customizable way for nonprofits to protect their team and their mission against certain harmful allegations of wrongdoing.
Insured by NIA:
HIP Housing
San Mateo, CA
Customize and buy what you need.
This coverage is included as part of Board & Executive, NIA’s name for a group of coverages that allows nonprofits to choose from three combinations of D&O, Fiduciary Liability, and EPLI.
Insured by NIA:
Healing Paws for Warriors
Fort Walton, FL
Highlighted Features:
D&O, Fiduciary, and EPLI
These coverages are for nonprofits that need a strong, robust coverage that protects a broad scope of potential liability.
By combining Directors & Officers (D&O), Fiduciary Liability, and Employment Practices Liability Insurance (EPLI), this option allows nonprofits to protect their board members and executive officers, as well as provide coverage for its employment and financial practices. Features include:
- Deductible options available
- $1 million policy limit: Aggregate limits to $2 million
- Umbrella limits up to $5 million available
- Defense costs outside the policy limits
- Prior Acts Coverage (subject to underwriting and additional premium)
- Individual member vs. individual member coverage included
- Broad definition of member-insured: Includes the nonprofit, as well as directors, trustees, officers, employees, volunteers, committee members, interns, students-in-training, and spouses
- Coverage extends to third-party harassment
- Broad Employment Practices Liability (EPLI) coverage
- ERISA sublimit of $250,000 included with $500,000 (subject to underwriting and additional premium)
- Punitive damages covered (in states where insurable)
- Free unlimited employment risk consultations
- Subsidized subscription to the Employee Handbook Builder
- Free online sexual harassment prevention training for supervisors (where required by state law)
Highlighted Features:
D&O and Fiduciary
These coverages are ideal for nonprofits that want strong protection for their board members, executives, and their financial practices — but may not have employees. By omitting EPLI, nonprofits get the coverage that’s tailored to fit their operations. Features include:
- Deductible options available
- $1 million policy limit: Aggregate limits to $2 million
- Umbrella limits up to $5 million available
- Defense costs outside the policy limits
- ERISA sublimit of $250,000 included with $500,000 (subject to underwriting and additional premium)
- Prior Acts Coverage (subject to underwriting and additional premium)
- Individual member vs. individual member coverage included
- Broad definition of member-insured: Includes the nonprofit, as well as directors, trustees, officers, employees, volunteers, committee members, interns, students-in-training, and spouses
- Coverage extends to third-party harassment
- Punitive damages covered (in states where insurable)
Coverage checklist
This PDF allows you to print and compare coverage features with your clients.
Policy forms
Available for appointed brokers only on the NIA Broker Portal.
From the claims files:
Here are a few examples of how NIA’s Board & Executive Liability coverage helped nonprofits like yours.
Claim involving four employees who claimed they had been wrongfully terminated for complaining about unpaid wages.
An employee with ongoing performance problems was eventually terminated, but alleged he was not given an accommodation due to stress in his personal life.
A nonprofit was sued by a builder for breach of a construction project contract, claiming unpaid contract damages.
List of coverages:
Here’s the menu of NIA’s nonprofit insurance offerings.
Note: NIA’s Commercial General Liability coverage is required if you want to purchase any other coverages from NIA.
Coverage for a wide range of negligent acts which result in bodily injury, property damage, personal injury, or advertising injury. Liquor liability included at no extra fee.
Coverage for nonprofit employees, volunteers, and the organization for allegations of sexual and/or physical abuse. Event trigger and claims-made available.
Coverage for employees, volunteers, interns, students-in-training, and independent contractors for damages resulting from errors and omissions in the provision of certain professional services.
Board & Executive is NIA’s brand name for a group of coverages that provide protection for boards of directors and executives. Include options for Directors and Officers (D&O), Fiduciary Liability, and EPLI.
Coverage for vehicle fleets of all sizes, driven by employees or volunteers. Can include personal vehicles that are being used for nonprofit work.
Coverage for the physical assets a nonprofit owns or leases — such as buildings, office equipment, computers, furniture, etc. Generous, modified BOP, includes business income and extra expense.
Limited coverage for injury to a volunteer or participant (depending on the coverage) on a no-fault basis. May apply prior to (or in excess of) an individual’s health insurance policy.
While a $1 million limit works for most claims, umbrella liability provides the excess coverage some nonprofits may need.
Insurance Brokers:
Learn more about working with NIA, how to become an NIA appointed broker, or how to submit 501(c)(3) business.
Fiduciary Liability Coverage Key Features.
A nonprofit’s reputation depends on its ability to handle funds responsibly, and NIA’s Fiduciary Liability coverage can help protect against allegations of wrongdoing, with features that include:
- Deductible options available, including $0
- $1 million policy limit: Aggregate limits to $2 million
- Umbrella limits up to $5 million available
- Defense costs outside the policy limits
- Prior Acts Coverage (subject to additional premium)
- Individual member vs. individual member coverage included
- Broad definition of member-insured: Includes the nonprofit, as well as directors, trustees, officers, employees, volunteers, committee members, interns, students-in-training, and spouses
- Coverage extends to third-party harassment
- Fiduciary Liability Coverage included at full policy limit
- Breach of contract limit of $250,000 for defense (subject to additional premium)
- Punitive damages covered (in states where insurable)