COVERAGE - STANDARD LINE DEFINITIONS

Directors & Officers
Employment Practices
Cyber/Data Breach Liability

Professional Liability
Sexual Abuse/Molestation

Commercial Property

Coverage is provided for an alleged inappropriate decision of the board member(s) serving in the capacity as a director or officer of the organization where the insured organization is liable for damages. Coverage also pays for defense costs.

Coverage is provided for Employment Practices Liability for accusations such as, but not limited to, discrimination, wrongful discharge, sexual harassment, etc.  

Coverage is provided for electronic data, computer progrms, business interruption, extortion threats, security and privacy breaches (including credit protection services) and media liability for defamation, libel, slander, etc.
Professional Liability is intended for liability accusations and/or claims from a third-party due to your human services act, error or omission.  Any type of work including, but not limited to, the following has an increased exposure:  counseling, education, medical/RX, etc., or any "failure to provide/perform services".  If a member's existing policy currently includes a retro-date, NIT will advance the retro-active date to coincide with the previous date specified.  Otherwise, the retro-date will be based upon the policy effective date.

Coverage provided for sexual abuse/molestation claims.
Buildings Coverage: Includes buildings are structures and any completed additions. Permanently installed fixtures, machinery and equipment are also included.

Contents Coverage: Consists of furniture, fixtures and equipment not permanently installed and/or Inventory and other property owned and used by your organization.

Business Expense/Extra Expense: is "time element" coverage for loss of earnings during an interruption of your business. Extra Expense provides coverage for additional expenses incurred to operate elsewhere during an interruption.

Workers' Compensation

Crime & Fidelity

General Liability

General liability insurance is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations.
Minnesota state law has required all companies, large and small, (with limited exceptions) to carry workers' compensation insurance. Workers' compensation provides medical and wage replacement benefits to employees injured as a result of work-related tasks. 
A fidelity bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals (embezzlement), along with meeting ERISA requirements. Employee dishonesty must be 10% of the plan assets up to a maximum bond limit of $500,000.

Business Auto

Inland Marine

Employee Benefits Liability

The Business Auto Coverage Form (BACF) is the most commonly used contract for providing business auto liability insurance. Although the form refers only to “autos,” autos are defined to include cars, trucks, trailers, vans or other vehicles designed for use on public roads.
Property insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers), and legal liability exposures of bailees.
Protection for organization for an error or omission in the administration of your employee benefit plan(s). (i.e. not advising employees of benefits, neglecting to add a new participant, etc.)

Umbrella/Excess Liability

Fiduciary Liability

Fiduciary Liability Insurance protects individuals (employees or board members) against legal liability for claims arising out of their roles in the capacity as a “Trustee” of an organizations retirement (or similar) plan.
Excess liability provides coverage that supplements the limits of an insured's General Liability, Automobile Liability, Directors & Officers, Employment Practices and Professional Liability/Sexual Abuse policies. An Excess policy's coverage is triggered when the limits of the underlying insurance have been exhausted.