Does Your D&O Policy Cover You For Workplace Violence

typesofworkplaceviolenceLately, we have been hearing a lot about violence throughout every strata of our society. One of the places we try not to think about encountering violence is in the workplace. Statistics show that the average loss associated with workplace violence is $65,000. In these days of non-profits having to struggle for every penny to make their programs work, such a cost could be devastating.

To help non-profits deal with the possibility of such a loss, coverage for just such an occurrence is now being included in many Not-For Profit Directors & Officers Liability policies. One such carrier provides $100,000 worth of coverage as an enhancement on their policies and they even include an option to increase this sublimit to $250,000. Make no mistake, this is most certainly a growing concern to the industry.

Why bother to obtain this coverage? Because it can help pay for expenses such as these following a claim:
• Lost income and extra expenses suffered by the non-profit entity;
• Lost wages of employees, counseling of staff and security so that your employees can go on with the business they were hired for;
• Expenses paid to a public relations firm to help defray the cost to assist in restoring a tarnished public image.

We sincerely hope that you never, ever have to use such coverage, but it is comforting to know that it is there should you need it.

– Karen Skoler, CPCU

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