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Insurance- required and optional types. The Cities of Minneapolis and St. Paul require that neighborhood associations and district councils have basic liability coverage and workers compensation insurance. In order to get workers comp insurance your organization must first get an unemployment number from the State of MN's Department of Economic Security. It is also important for your group to carry basic insurance covering your equipment and physical property.
Directors and Officers Insurance - optional insurance can be purchased for your board of directors, to protect them from liabilities that your group could incur. Minnepolis NRP groups can get this directors and officers liability (D & O) coverage for free. The Minneapolis NRP program has purchased a blanket policy to provide D & O coverage for the Minneapolis neighborhood associations that are NRP contracting agencies. The service is free, but groups must contact NRP to get covered. Neighborhoods must continue to purchase their own general liability, and property insurance coverage through an insurance agency. Most of the Minneapolis neighborhood groups are taking advantage of NRP’s blanket D & O insurance policy.
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Types of insurance, what they cover, how to buy it
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