Nonprofit Insurance: What You Need To Know

April 20, 2021

In this episode of the NP Local podcast hosted by Jason Cass and Scott Niermann, they discuss what kind of insurance is appropriate for nonprofits.

Episode Highlights:

  • Jason shares what the traits are that a person must have when an executive is looking for an agent. (3:34)
  • Jason mentions why he fell into nonprofits. (4:31)
  • Jason shares some of the companies that he works with. (7:25)
  • Jason mentions the only reason why they’re usually writing the nonprofit. (7:48)
  • Jason explains the two types of liability. (8:15)
  • Jason mentions what workers comp is and why they do what they do. (12:10)
  • Jason shares a scenario where he has seen huge claims for nonprofits. (13:51)
  • Jason shares the significance of claims on workers comp. (16:37)

Key Quotes:

  • “We have this misconception about how we quote and we have a misconception as to the way we should quote. Sometimes it’s our own fault because we get comfortable with the agent we have.” – Jason Cass
  • “When we started to figure out how to help organizations lower their workers comp, we looked at other industries and said, Who else has high work comp issues?” – Jason Cass
  • “There’s only a 1 out of 6 chance that you’d have somebody get hurt and workers comp and that’s your biggest one. There’s a 230 to 1 chance that your building is going to burn down, but 2.7 to 1 that you’ll have a cyber attack.” – Jason Cass

Resources Mentioned:

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