insurance
My agency is fortunate to work with many non-profits. At a minimum we recommend all non-profits take a general liability policy of at least $1,000,000 per occurrence and a $1,000,000 Directors and Officers policy. This combination affords coverage in the event the organization or the Board are sued. This combination generally runs $1200-$1500 per year but could be much higher for a larger more established group.
In addition we also recommend any business take a property policy to insure buildings and other assets. Premiums range greatly for property coverage depending on assets owned or leased.
What kind of insurance should I purchase if I’m serving on the board of a nonprofit?
If you are part of the scheme or should with ordinary diligence have known of the issue).
As David Norton says, an excess liability insurance policy is something that anyone with a lot to lose should probably have – they sit on top of your other insurance and cover amounts that other policies don’t. They are not terribly expensive – a typical policy is for $1 or a few more million in liability.
How much would health insurance companies have to charge if they were nonprofit?
I can’t answer your question with numbers- there are far to many variables to consider.
In the insurance world, this is known as a Mutual Insurance company (one that exists for the benefit of its members), and they already exist. While they can be more competitive on rates, they ultimate difference in the market generally isn’t that significant, however many mutuals will provide a refund to their members if their reserves exceed certain thresholds.
Do non-profit insurance companies provide better healthcare because profit is not their goal?
Unfortunately not necessarily.
While the fact that a company is nonprofit can make us feel good about their intentions, they can actually sometimes be less effective operators because they lack the kind of hands on oversight that the owners of a for profit company provide.
Also, while not conflicted by the profit motive, the lack of that hand on oversight means non profits are arguably more susceptible to managers/leadership with personal agendas that don’t always align with better service.
Which credit card(s) provide primary insurance for rental car in the US?
The following credit cards offer primary car rental insurance:
Chase Ink Plus Card
Chase Ink Cash Business Card
Chase Sapphire Preferred Card
United MileagePlus Explorer Card and United MileagePlus Club Card
Diners Club Card Premier Card
Diners Club Card Elite Card
Discover Escape Card
Fairmont Visa Signature
The Ritz-Carlton Rewards Credit Card
American Express Card with Amex Premium Car Rental Protection (an add-on which charges you a modest fee each time you rent with your Amex card).
It’s important to keep in mind that even cards that offer primary rental insurance offer ZERO coverage for liability. In the simplest example, this means that if you rear end a nice Mercedes in your Chevy Impala from Hertz, you can walk away free and clear with no responsibility for the damage done to the rental vehicle, however you will be fully liable for the damage done to the car you hit, as well as any medical claims for passengers in the vehicle resulting from said accident. In short, if you don’t own a car, even with primary rental insurance, you are really only half covered.
Most rental companies will offer you either Collision Damage Waiver full coverage, or Supplemental Liability Protection. To fully cover you people will often opt for both, as they each offer a different type of protection. It is however a personal preference, and is entirely up to you
