Operating a non-profit organization in Portland is a commendable way to give back to marginalized communities, groups, and causes that are important to you. However, before you get started, it’s crucial to understand the commercial insurance requirements you’ll need to comply with to avoid fees and potential fines. At H & R Insurance Group LLC, we specialize in assisting clients in Portland, OR, who are interested in running a non-profit organization while remaining compliant with insurance requirements and regulations.
Mandatory Insurance Requirements for Oregon Nonprofits
For non-profit organizations in Oregon, the following types of insurance are required by law:
- Workers’ Compensation: Workers’ compensation insurance is required for all non-profits with one or more employees. This provides wage replacement and medical benefits to employees. The State Accident Insurance Fund (SAIF) provides state-chartered workers’ compensation plans for non-profits.
- Unemployment Insurance: You will be required to carry unemployment insurance if you are a non-profit with employees to offer temporary financial assistance to unemployed workers should the need arise.
- Specific Insurance: Some organizations may require additional insurance if you offer professional services or if you may need professional liability insurance for the type of work you provide.
It’s recommended that non-profits consider the following types of insurance: general liability, Directors and Officers (D&O), property insurance, professional liability insurance, Employment Practices Liability Insurance (EPLI), and cyber liability insurance, as needed.
Understanding the basic requirements for commercial insurance as a non-profit organization is essential, whether you volunteer time, money, food, or products. The more familiar you are with the requirements you need to meet as a non-profit in Oregon, the less likely you’ll be to encounter potential issues, such as fees or violations. To learn more about your insurance requirements and options in Portland, OR, contact H & R Insurance Group LLC today.
