Whether your insured is running a community gallery, a local theater troupe or a summer concert series, the unexpected can threaten their mission. To keep the lights on and the curtains rising, here are the top three components any nonprofit arts organization needs in an insurance policy.
No Premises Limitation
For arts organizations, an office space is rarely where the real work happens. Despite this, many standard commercial policies limit coverage to the specific address listed on the policy. This can create a burden to schedule the various venues where an organization holds performances and may potentially create a massive liability gap.
USLI’s nonprofit Arts and Culture policies do not have a premises limitation. Coverage follows the insured anywhere they have ongoing operations such as location scouting, off-site meetings, rehearsals and performances.
Blanket Special Events
Many standard policies require an organization to schedule out each individual event the nonprofit hosts. This creates an administrative burden on both the insured organization and the agent or broker managing their policy.
Our arts policies include blanket special events coverage for events up to 1,000 attendees, subject to a list of higher hazard activities. This creates a low-touch approach and less back-and-forth for every fundraiser.
Directors and Officers Coverage (D&O)
Board members are the backbone of any nonprofit arts organization, often volunteering their time out of a love for the arts. However, they can be held personally liable for management decisions, such as a dispute over a grant’s use or a wrongful termination claim from a staff member.
D&O insurance protects the personal assets of a nonprofit’s leadership team. Because this coverage is so critical, it can be the deciding factor in whether high-level professionals feel comfortable joining the board.
At USLI, we’re able to package D&O overage with general liability, blanket special events, hired and non-owned auto, property coverage and employment practices liability — making USLI your one stop shop for all of the most critical coverages an arts organization needs.
The bottom line is that an arts organization’s insurance should support and empower their creativity, not create more paperwork. At USLI, we keep this goal in mind by offering comprehensive package options that will minimize administrative burden and ensure that your insured’s protection is as flexible and active as their mission.
Have questions about our arts coverage options? Reach out to Nonprofit Package Underwriter, Jenny White; 888-523-5545 ext. 2140. Already have an arts organization in your books that’s looking for coverage? get a quote today!
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