Nonprofits are the heart of our communities, and as these organizations step up to meet growing societal needs, they’re also facing new pressures and risks. From tighter budgets to emerging threats, the next decade will bring both challenges and opportunities. Let’s take a look at what’s ahead and how USLI can help.
1. Limited Budgets, Big Risks
Funding is always a top concern for nonprofits. With every dollar carefully budgeted, insurance sometimes takes a back seat. Many organizations settle for the bare minimum or delay renewing their policies to cut costs. Unfortunately, that can leave them dangerously exposed in the event of a lawsuit. With increasing competition for donations and grants, nonprofits often have to choose between immediate needs and long-term protection. But underinsuring — or skipping coverage altogether — can put the entire organization, including its leadership, at serious risk.
2. Rising Legal Pressures
Legal risks are on the rise. Nonprofits are facing more scrutiny from regulators, as well as increased lawsuits from employees and volunteers. Whether it’s allegations of discrimination, wrongful termination or misuse of funds, legal disputes are becoming more common and costly. Board members and officers can also be personally liable for decisions made on behalf of the organization. That’s why directors and officers (D&O) insurance, especially when paired with employment practices liability (EPL), is more important than ever to protect leadership and keep the mission on track.
3. Reputational Damage
Public trust is essential for fundraising and partnerships. A single incident, miscommunication or viral controversy can erode that trust quickly. Whether it’s a financial misstep, social media mismanagement, or an association with a controversial issue, reputational damage can severely affect donor relationships and community support.
How USLI Can Help
At USLI, we understand the unique challenges nonprofits face. That’s why we offer affordable, flexible insurance options designed specifically for nonprofits.
Our products include D&O, EPL and fiduciary coverages, as well as expense coverages for data breach, identity theft, workplace violence and kidnap. Every policyholder has access to our Business Resource Center that provides a multitude of services including a free and unlimited human resource hotline, discounted background checks and more.
Most importantly, we tailor our coverage to fit a nonprofit’s mission and budget so they can focus on what matters most — making a difference.
3 Ways to Quote
ONLINE SNAP.USLI.COM
PHONE 888-773-8754
EMAIL PROFESSIONAL@USLI.COM
