D&o Overview 4-16-09

New York Council of Nonprofits, Inc. (formerly CCSNYS) 2009 Group Directors & Officers Liability Insurance Program

For over 45 years NYCON (formerly CCSNYS) has sponsored group insurance programs for itself and its members. The Directors and Officers Liability Insurance Program offers LIMITS OF LIABILITY OF $1 Million or $2 Million. The current program underwriter is Chubb Executive Risk (Best’s Rated A++ Superior). The features of the NYCON Sponsored Program include: Comprehensive Coverage •

Coverage for claims alleging Wrongful Acts, Employment Practices Wrongful Acts and Personal Injury Wrongful Acts not covered under General Liability or Professional Liability insurance policies. Coverage for all directors, officers and employees, including staff, volunteers and committee members. (Other D&O policies may only cover officers and directors.) Entity Coverage Included: Claims may be made against the organization itself. Without entity coverage these claims would not be covered.. Employment related practices coverage including wrongful termination, sexual harassment, discrimination and unfair hiring/firing practices. Defense Costs are in addition to the policy limits: Defense does not diminish the limits of liability

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(Note: D&O insurance, which indemnifies an organization and its officers for allegations for wrongful acts resulting from the “management and governance of the organization” should not be confused with General Liability insurance which protects the nonprofit against liability for property damage or bodily and personal injury that it allegedly caused.)

Additional Benefits • Access to a toll-free Employment Practices Hotline. Participants can call and speak with a qualified employment practices professional from a nationally recognized law firm.

Rates Starting at: $850 For $1 million Limit of Liability $1,415 For $2 million Limit of Liability

Risk Management Education Credits: Earn a $50 Credit off your D&O Premium by attending a NYCON Workshop

Eligibility Must be a New York organization incorporated as a non-profit entity with a 501(c) tax status and a member of NYCON with:     

Under $5,000,000 annual revenues Total 500 employee/volunteers Positive fund balance Certain restricted classes No prior or pending claims

 Operational for at least 12 months  No Subsidiaries  Positive Operating Income (An operating income deficit less than 25% of fund balance will have an increase to pricing. For 25% or greater the account will be written in the USB (Underwriting Services Bureau)

PLEASE NOTE: NYCON (formerly CCSNYS) members who do not meet eligibility requirements are still eligible for a discount off Chubb/Executive Risk’s usual not for profit D&O premium rates.

For More Information Visit www.councilservicesplus.com or contact Kay Bassey at (877) 501-4277 ext. 124 or via email at [email protected].