There are things you can do to make your non-profit organization more attractive to a prospective insurer. Remember, directors and officers insurance premium is really a reflection on how well run your non-profit organization is. It is extremely important to complete any application FULLY and return WITH requested information. Listed below are tips on getting the best quotation from a prospective insurance. These tips apply to ANY type of insurance coverage you may be purchasing

• Remember, acceptance of the application and the insurance premium are determined by what information you disclose and how you explain it in the application.

• Accompany unfavorable information with positive explanation.

• Reveal known risk, however, choose words carefully.

• Put same effort into insurance application as you would for grant proposals. The potential payoff is considerable.

• Disclose all known claims history. Remember, the application becomes part of the contract. Misrepresentation will result in voiding of the contract.

• Ask your insurance agent. Agents do not have authority to underwrite, but are familiar with application process. An agent experienced with directors and officers coverage can be most helpful in the application process.

Remember, the ultimate loss control is to not only eliminate losses, but to reduce your insurance premium. This frees up more funds for the intended purpose of your non-profit organization.

With careful analysis and proper preparation, you can greatly reduce the chances of a D&O claim from occurring. Sometimes, a claim is unavoidable. However, with the right loss control measures and insurance program, you can reduce the severity of the claim or fight the claim based upon your improved defense.