November 5, 2021

Tip of the Week – November 4

Manage Your PTA’s Risk by Renewing Your Insurance

While not required, it is highly recommended that a PTA review its insurance coverage levels every year. For any PTA with coverage through AIM insurance, your renewal date is November 30.

Check your current coverage against what was budgeted for this year and against your goals and plans for the rest of this year. Do they match? Have you added a new event or program in your plans for the year such that you need to increase your insurance? If so, you may need to revise your budget. Also, review the requirements for insurance coverage. If you have fidelity bond insurance, your PTA must also have a nonsigner reviewing the bank statements each month.

Resources on insurance are located on the Leadership Guides webpage under Nonprofit Compliance Resources.

Category: Leadership

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