Member Benefits: D&O Insurance

Entering its third year, FOLUSA’s member insurance program offers a unique combination of insurance coverage for Friends Group, Library, Associate, and All-In-One members. Our insurance brokers, Herder-Tarricone Associates and AMWINS are pleased to offer the continuation of the insurance program.

Coverage is available for Friends Group, Library, Associate, and All-In-One members. Members will be underwritten by the size of their membership and must only complete a short form application. They will be eligible for the following coverages:

• Directors & Officers Liability
• Employment Practices Liability
• Bodily Injury
• Limited Property

The size of your membership will also determine whether you qualify for zero deductible for all coverages, or a deductible as low as $1,000 for the Employment Practices Coverage only, which is the case for our larger members. This program enables members to choose coverage on a “shared basis” or enjoy the same outlined coverage on a “stand alone basis.” The primary difference is cost. The “Shared Limit” provides members who are comfortable with sharing a limit of coverage with fellow FOLUSA members a very affordable approach to their insurance needs. The “Stand Alone Limit,” which is slightly more expensive, enables members to secure their own limits of insurance for the coverages indicated above.

Some Friends groups may need additional coverage. Businessowners Policy Coverage is now available for Friends Groups who may need General Liability and Property coverage for operations or circumstances that are not covered in the FOLUSA policy, such as a store or coffee shop. Coverage could include General Liability for property damage or bodily injury of others and Property coverage for your building and/or the contents owned by your group. Coverage for Hired & Nonowned Auto Liability and Special Events may also be added.

Rates for the Shared Policy range from $200 to $850 for shared policies purchased between 11/1/08 and 4/30/09 expire at 12:01 on 11/1/09. Premiums for shared policies will be discounted 50% for policies purchased between 5/1/09 and 10/31/09 to expire at 12:01 on 11/1/09. Rates for the Stand Alone Policy range from $500 to $1,200. Policies for the stand alone option will be written for a two year term from renewal date pending receipt of completed application and premium payment prior to renewal date (subject to underwriter approval); the aforementioned premium notes payment due with application for the first year.

For more information, FOLUSA members may login to access the application along with additional information. Non-members should consider FOLUSA membership to be eligible for this member benefit.