Beazley has launched a management liability policy for non-profit organisations that includes an optional extension for event cancellation.
Beazley's non-profit organisation management liability policy combines employment practices liability (EPL) and directors' and officers' (D&O) coverage in a policy designed for the non-profit sector.
In particular, non-profit organisations can cover out of pocket losses associated with the cancellation of events such as golf outings, dinners, auctions, galas, fund raisers and sporting events, which they have sponsored
“Being dependent on fund raising and donations means that non-profits often struggle to make ends meet”, said Carrie Brodzinski, manager of Beazley's private and non-profit coverages. “When a fundraising event is cancelled it can be devastating not only because of the loss of donations, but because of the associated expenses they may still be obligated to pay.”
