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 Why we changed our name in 2012! |
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Colorado Nonprofit Insurance Agency is a wholly owned Subsidiary of Colorado Nonprofit Association |
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Commercial General Liability Insurance – The Basics Liability insurance covers the financial risk of unexpected civil and criminal lawsuits. If an insured (your nonprofit) is sued for a covered liability, the insurance company will provide legal defense and pay any judgment up to the policy limits. The insurance company can also, at its discretion, settle most liability claims, rather than going to court, in order to avoid the expense and uncertainty of litigation. A nonprofit may be required to purchase liability insurance for a number of reasons. If you own automobiles, you are required by statute to have automobile liability. Funding sources, landlords, lessors, mortgagors, municipalities, and other nonprofits may all require you to show evidence of liability insurance. The policy itself has one purpose – to protect insureds from the financial risk of lawsuits. The Commercial General Liability (CGL) policy is designed to cover the liabilities that are common to all organizations, no matter the size. These coverages are:
COVERAGE A – General Liability covers everything except liabilities specifically excluded. The following is a partial list of the categories of claims that can be covered:
Standard general liability exclusions (not covered losses) are:
These exposures should be covered under another specific (not general) liability policy:
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iNews Articles 2011 
