Every client is different, but some clients have completely different aims to the rest.
That’s certainly the case with non-profit organizations who aren’t selling products but instead have a board of directors focused on pursuing a movement.
But that doesn’t mean non-profits are laissez-faire when it comes to cash, according to Sharp Insurance’s sales manager, Shaun Driscoll.
“The biggest thing is knowing their risks and knowing how to insure a non-profit properly because it is different from a normal business,” he explained. “It’s important to know they’re very price-conscious, understand that price plays a big role for them and just try to work with the insurance company to get the best price for them because they are doing something great for the community. Our role should be to help them to help the community.”
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The most common coverages non-profits take out are D&O and liability policies, said Driscoll.
“Understanding the people they’re catering to and their events and organizing the insurance around that, that’s the biggest difference between a non-profit and a profit business where they’re selling a product,” he said. “In non-profit you have to look at the liabilities - if they put on an event, like an annual walk, for example, we insure banners put on bridges or people getting hurt during the walk.”
Volunteers are often an integral part of a non-profit, but they’re also a coverage concern – making finding the right insurer to work with crucial.
“The people at Intact, Aviva, Northbridge are great to work with and understand the non-profit business very well,” said Driscoll. “When we approach them with an event with 100 volunteers, they really understand how to cover that properly and help us ensure there’s proper coverage.”
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