Insurance for fiscal sponsors

disclaimer

I am not a lawyer, insurance broker, or insurance expert. I’m just sharing some things I have learned about insurance as it relates to fiscal sponsorship. Don’t listen to me.

my experiences with insurance

I only know of one insurer that understands fiscal sponsorship, a 501(c)(3) called Nonprofits Insurance Alliance. For tech orgs, I have also worked with Vouch. Good experiences so far - that said, I have never filed a claim, so take everything I say with a grain of salt.

Types of organization insurance:

• Directors and officers
  • Can include employment practices liability insurance (which may also come as part of a PEO relationship, but check for a high deductible!! - you don’t want that)
• General liability (and auto if needed)
  • Specific event insurance where needed, per policy (e.g., hiking events or bouncy houses)
  • Other related policies may be split out as part of the application
• Property (and Fire)
• Accident
• Umbrella
• Professional liability / errors and omissions (are these the same?)
• Cyber crime
• International liability (GL is only in US)
• Travel accident
• Retirement plan stuff (ERISA, etc., don’t know this well)
• Other special insurances
  • Media stuff

Processes you might want to implement:

• Creating process for verifying personal car insurance for people who drive

Additional insureds:

• It is good practice to ask independent contractors and Model C projects to add you as an additional insured on any policies they take out. You can also consider requiring them to have insurance in the first place