Preferred Insurance Program
It pays to have a network as large as ours. INN has established relationships with multiple leading providers of insurance for media and nonprofit organizations, leveraging the size of our network to obtain preferred rates for our members.
Lawsuits can and do happen in the practice of investigative journalism, regardless of how baseless the claims may be. Even if a case is eventually found in favor of a nonprofit publisher, the legal fees can be exorbitant and sometimes crippling.
INN helps its members secure three types of insurance:
- Errors and omissions insurance, which protects companies and individuals against claims made by clients for inadequate work or negligent actions, often covering both court costs and any settlements up to the amount specified on the insurance contract.
- Directors and officers insurance, which provides necessary coverage to your officers and board who are assuming personal liabilities in order to serve your organization.
- General liability Insurance, which protects against injuries or accidents that may occur on your company’s property.
Some things you should keep in mind:
- Shop around. Just because INN has a relationship with a particular broker and insurance provider doesn’t mean we have the guaranteed best prices.
- Not all insurance policies are written the same. Have a knowledgeable third party, such as an attorney, read the quote and policy before you purchase, to ensure that you are adequately covered.
- Request to pick your own defense attorney in the event of a case. Insurance companies are focused on managing risk — yours and theirs. They may be more motivated to cut losses and settle than taking on the costs of seeing it through the legal process. Being able to pick your own defense attorney will help you safeguard that your organization’s interests are being represented above the monetary consideration of the insurance company’s.
Contact Finance Director Melodie Iwai with questions or to find out how to get a quote.