K&K Insurance has launched a new website offering directors’ and officers’ (D&O) coverage for not-for-profit organizations. The website offers online quoting and binding capabilities and provides an option to purchase coverage immediately when using a credit card. In response to the needs of our clients, K&K includes employment practices liability insurance in this new product offering. The website can be found at www.kandkinsurance.com/dno.
The program is offered to organizations with a tax-exempt status as a not-for-profit organization with annual revenue of $5,000,000 or less from all sources. Organizations with annual revenue higher than $5,000,000 will be considered for coverage on an individual basis. This program is not available to government organizations.
10% commission is available to insurance agents when using the new on-line binding system. Coverage is provided through an “A+” rated insurance company.
The Not-for-Profit D&O Program features:
- aggregate limits of $1M/$2M for D&O coverage;
- separate aggregate limits of $1M/$2M for employment practices liability coverage;
- medical payments limits of $10,000 per director or officer;
- a retention of $1,000.
Optional coverages offered include outside services/directorship and volunteer worker medical payments.
Source: K&K Insurance
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