[Noisebridge-board] Insurance updates

David Molnar dmolnar at eecs.berkeley.edu
Tue Oct 14 11:51:49 PDT 2008


Hey,

We've received a quote for D&O insurance for the Nonprofit Insurance
Alliance of California. I've forwarded it to the list, but it's held up
due to attachment. Their quote for $1MM of coverage with $1K "retention"
(like a deductible) is $863 for one year from 12/08 to 12/09.

To finish the quote, they need our financials (P&L and balance sheet)
for operations to date. Mitch, if you'll be at the meeting tonight,
let's talk about putting this together.

Our broker with NIAC, Bill Bergstrom, tells me that he has submitted the
application for general + property to the underwriter. We should have a
quote "soon."

I've also received a D&O application from MF Insurance. I'll bring the
application to the meeting tonight.

For general liability + property, MF Insurance has also sent the
application to the underwriter. We should have a quote "in a few days."

We should talk at some point about what retention/deductible we are
comfortable with for D&O insurance. I don't know what the cost curve
looks like, unfortunately. So, for example, I don't know if the premium
decreases dramatically if we go from $1K to $10K.

-David Molnar

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