Description
Standards for Excellence 3.0
31 Risk Management and Insurance
31.1 What Is Risk? 6
31.1.1 Who Is Involved in Managing Risk? 7
31.1.2 Managing Risks 8
31.1.3 The Nature of Risk Management Depends on the Nature of the Nonprofit 9
31.2 Insurance 10
31.2.1 Insurance for Nonprofits 10
31.2.2 Commercial General Liability Insurance 12
31.2.3 Directors and Officers Liability Insurance Explained 12
31.2.4 Review of Decision to Forgo Insurance 13
31.3. Immunity for Nonprofits 13
31.3.1 Federal Law 13
31.3.2 State Immunity Laws 14
Selected Resources on Risk Management and Insurance 15
Attachments: 15
Attachment 31A: Understanding D&O Coverage: Common Questions 16
Attachment 31B: Sample Risk Assessment Worksheet 17
Attachment 31C: Glossary of Insurance Terms 20
Attachment 31D: Sample Risk Management Policy 21
