A survey of hundreds of insurance brokerages serving non-profit organizations offers insights on the lines of insurance their clients are buying, the limits and deductibles.
While the data fit our general expectations, there were several aspects to the data that surprised us.
- While a majority of the organizations purchased at least $1 million of professional liability insurance, the survey did not demonstrate a direct relationship between organization size and limit for professional liability and abuse and molestation coverages.
- Despite significantly greater costs, religious, social, and giving organizations appear to be somewhat more likely to purchase abuse and molestation coverage than organizations in the community services subsegment.
- Community service organizations are significantly more likely to purchase directors and officers insurance than religious, social, and giving organizations, despite the rate per $1 million of limit being significantly greater.
- Despite having similar total insured values, community services organizations have significantly lower property rates than religious, social, and giving organizations.
- Deductibles and self-insured retentions tend to be higher for employment practices liability insurance than for other coverages.
- Social services organizations are more likely to purchase larger cyber limits than their religious, social, and giving counterparts.
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