Nonprofits are constantly exposed to potential liabilities, making insurance a critical need. Whether it’s someone getting injured at an event, property damage resulting from the organization’s activities, or even a lawsuit stemming from professional services offered, the risks are real. Without liability insurance, these organizations face the daunting prospect of covering hefty legal costs and settlements, potentially jeopardizing their mission and financial stability. Directors and Officers (D&O) insurance is especially crucial for nonprofits, as it protects their leadership from personal liability, making it easier to attract and retain qualified board members.
Operating without sufficient insurance can have devastating consequences. A single lawsuit could bankrupt a nonprofit, damaging its reputation and disrupting essential services to the community. Liability insurance provides a safety net, allowing these organizations to focus on their important work without the constant fear of financial ruin. It’s an investment that ensures their survival and continued service to those who rely on them.
Consequences of Not Having Adequate Insurance:
- Financial ruin: A single lawsuit could bankrupt a nonprofit that is not adequately insured.
- Reputational damage: A lawsuit can damage the nonprofit’s reputation, even if it is ultimately found not liable.
- Loss of services: If the nonprofit is forced to close its doors, the community will lose the valuable services it provides.
Tennessee Nonprofit Network is thrilled to partner with HUB International Mid-South to provide exceptional liability insurance options for our valued members. We understand the unique challenges faced by nonprofits, and we’re committed to ensuring you have the protection you need to operate confidently and effectively. That’s why we have partnered with HUB International Mid-South to ensure our members have property, general liability, D&O, cyber, and other important insurance products to keep your organization thriving!
As part of this partnership, any Tennessee Nonprofit Network member who purchases insurance through HUB International Mid-South will receive complimentary access to the Risk Management Center (RMC), a powerful tool valued at over $5,000. The RMC provides online training around risk management, fraud prevention, etc. and even allows you to track your employee’s engagement! Click here for a list of some of the most popular trainings online provide.
Let HUB International Mid-South and Tennessee Nonprofit Network strengthen your organization’s protection and support your vital mission.
Want to learn more? Join us for an information session on November 7th at 9am CT/10am ET to learn more about these new insurance offerings and the free Risk Management Center opportunity. Register here.