Legal, Taxes and Insurance

All you need to know about Chapter Insurance

• Who to Contact with Questions about Your NIGP Chapter Insurance

  If you have any questions about your NIGP chapter insurance or would like a quote for additional insurance, please use the contact information below. 

  Brenda Reed
  breed@moodyinsurance.com

• General Liability Insurance

  The NIGP general liability policy extends liability protection to a number of people involved in your business. If your business is a partnership or joint venture, this policy covers all partners or members and their spouses if they are sued because of something they did while acting in an official capacity for your business.

  If you are a business or association, this policy also covers all executive officers, directors, stockholders, and employees while they are acting in their official capacities. Your policy would also extend liability coverage to any subsidiary for which you own more than 50% of the voting stock.

  Under the NIGP general liability insurance coverage, any person or organization, such as a vendor, with whom you have a written agreement to indemnify, would also be protected against liability claims for any bodily injury or property damage that results from distributing or selling your product(s). Any newly acquired organization would also be protected under your policy for 90 days to newly acquired companies. Your legal representative would also be afforded liability coverage under this policy for any liability arising from the maintenance of use of your property in their care.

  While acting under your direction and within the scope of their representative for you, any volunteers for your business would also be extended liability coverage.

• Directors and Officers Insurance

  Directors and officers (D&O) insurance protects a corporation's officers and directors from liability in the event they become the subject of a claim or lawsuit against them alleging wrongdoing in connection with the company’s business. D&O insurance has gotten very expensive in recent years, and insurers have cut back on the scope of the coverage. It is important to have a good insurance broker to help you to get the best, most cost-effective coverage. 

• Host Liquor Liability

  As long as you are not in the business of manufacturing, distributing, selling, serving, or furnishing alcoholic beverages, the general liability policy protects you in case someone claims you are legally liable for a liquor-related accident. This means that, as long as you don’t charge for the alcohol, you would be covered if you occasionally distribute alcoholic beverages, such as at the annual company picnic or a holiday party.

• Event Insurance

  Shows and events cancellation and interruption insurance provides coverage for an event's total cancellation, partial cancellation, or lack of attendance due to a covered peril. Cancellation insurance provides you with coverage, which enables you to keep your business going when an unexpected occurrence affects your event. Insurance is provided for your total gross revenue, which protects the gate receipts and your booth fees and sponsorship revenue. Even first-time events can be covered for costs and expenses. You must submit an application to get a quote. Prices vary and may be impacted by your event's location, type, timing, gross revenue and prior loss history.