Group Resource:Insurance – Types
General Liability and Excess Accident Medical are the most common policies and must be purchased together. Each policy protects you and your group against different kinds of situations and claims.
General Liability Insurance – Did you know that many venues including school and municipal facilities won't allow your PTO to hold a sponsored event without General Liability coverage? General liability insurance protects your group and volunteers against 3rd party bodily injury and property damage claims. General Liability - $1,000,000 per occurrence limit/$2,000,000 annual aggregate limit per parent organization. Must be purchased with Excess Accident Medical.
Related article – Are You Covered?
Excess Accident Medical Insurance – Accidents and injuries can result in significant medical costs. Excess Accident Medical insurance provides excess medical coverage to participants in PTO sponsored events in the case of injury to the participant. The coverage is excess to any primary medical insurance the participant or the participant's guardian (in the case of a minor) may have in place. $25,000 annual limit. Note: Excess Accident Medical insurance does not replace the need for a General Liability policy.
Directors' & Officers' Liability Insurance (D&O) – Your board members are responsible for making decisions and running your group. Any one of your board members can be sued personally for a decision made by your group. D&O insurance protects board members if a "mismanagement" or "misrepresentation" claim is filed. $1,000,000 per claim and $1,000,000 aggregate limit per parent organization.
Crime Insurance – It's hard to imagine any of your volunteers stealing from the PTO funds. Unfortunately, theft from the PTO is something that many groups have had to overcome. This type of coverage replaces the stolen money so your group can continue operating business as usual. $25,000 annual limit. Must be purchased with Excess Accident Medical and General Liability. Related article - Stealing from the PTO.
Property Insurance – Your group works hard to raise and allocate funds. Property insurance protects your parent group property (cotton candy machines, computers/projectors, and fundraising merchandise, etc.) against theft and damage. Imagine the cost of replacing all those rolls of wrapping paper if a pipe burst and caused water damage! $10,000 annual limit. Must be purchased with Excess Accident Medical, General Liability, Crime and D&O. Since our coverage is designed exclusively for parent groups, we cover many of the usual parent group events and activities that other policies exclude, like carnivals.
For even more details, download our FREE brochure