[CSL board] 15 minutes reading: insurance coverage

[Dan MacNeil]

In the Jericho Road assessment, Jodi noted that there was wide 
difference in perception of our insurance coverage.

I believed we were not covered at all for anything.  Many board members 
believed we were covered for everything.

At the Executive Committee meeting, staff was assigned to investigate 
coverage. Below is Eric's good work, mangled by me.

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CSL's Insurance Situation

**RISKS**
Our exposure to risk is limited for our current employees. AmeriCorps
members cannot make claims against the organizations they work at. Dan 
is also unlikely to sue us. However, CSL is potentially liable for 
claims made by volunteers at the Lab. Also, in case of harm to Alumni 
Hall, CSL's liability is undecided.

**INSURANCE TYPES**
Directors & Officers (D&O) insurance covers against financial
mismanagement and certain types of employment disagreements--rather than
protecting against liability for physical injuries.

$975 for $1,000,000 coverage

Link to plain English description:
http://www.npccny.org/info/oi2.htm

General Liability Insurance (GLI) covers accidents and harm to property.
This is the more common type of policy for nonprofits and businesses to
have. It would protect CSL's volunteers if they get hurt. Policies can
include limited fire insurance. It'll also cover hurt employees, but
doesn't include workers compensation.

$350 for   $500,000 coverage
$500 for $1,000,000 coverage

Link to plain Engilsh description (in PDF format):
http://www.mnaonline.org/pdf/Insurancmmo.pdf

Workman's Compensation  Covers any on the job injury. For offices 
workers $70 per year is a

**COSTS & PROVIDERS**
All prices must be negotiated with an individual insurance agent (see
mnaonline.org). GLI is calculated based on square footage of office 
space,yearly payroll, and other factors.

With CSL's low liability exposure, it may be difficult to find a 
provider who is interested in that low fee.