Top Business Insurances for Environment, Conservation, and Wildlife Organizations with NAICS Code 813312

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Critical types of business insurance for environment, conservation and wildlife organizations to consider including general liability, property, professional liability, D&O, workers' compensation and cyber liability insurance.

Key Takeaways

  • General liability insurance protects against claims of bodily injury and property damage from visitors, volunteers and clients.
  • Property insurance covers costs to repair or replace facilities and equipment damaged by disasters like fires and floods.
  • Professional liability protects against lawsuits alleging negligence, errors or omissions from stakeholders affected by an organization’s work.
  • D&O insurance protects the personal assets of directors, officers and trustees from liability lawsuits.
  • Workers’ compensation covers medical expenses and lost wages if employees get injured or ill on the job.
  • Cyber liability provides protection against costs and legal risks of data breaches, privacy violations and cyber attacks.

Introduction

Environment, conservation and wildlife organizations play an important role in land preservation, habitat protection, research and education. NAICS code 813312 refers specifically to organizations focused on ‘Nature Parks and Other Similar Institutions’, which typically includes non-profits engaged in operating nature preserves, sanctuaries, refuges, botanical gardens, aquariums and zoological parks focused on environmental protection, habitat conservation and wildlife preservation efforts. However, as with any business, there are risks these non-profits need to consider and mitigate through proper insurance coverage. This article examines top insurances for such organizations classified under NAICS code 813312 to understand critical protections they should have in place.

General Liability Insurance

General liability insurance is an important coverage for environment, conservation and wildlife organizations to protect the business from financial losses due to accidents and lawsuits arising from operations. It covers bodily injury, property damage and other liability claims by third parties. Some key benefits include protecting assets from costly claims, covering legal defense costs, and providing access to risk management services. Coverage for pollution liabilities is also crucial as conservation work may involve chemical usage and environmental risks. General liability insurance provides peace of mind by ensuring the organization is protected from expensive lawsuits if unexpected accidents occur during activities like nature trails, educational programs and wildlife handling.

Category List
Benefits
  • Protects your business from claims of bodily injury or property damage from customers, visitors or volunteers
  • Covers legal costs if you’re sued for damages
  • Covers accidents that happen on your premises or during activities and events you organize
  • Protects your personal assets if your business is sued and you’ve been named personally in a lawsuit
  • Meets the contractual requirements of many vendors, partners and landlords who require proof of coverage
  • Covers legal defense costs even if a claim is groundless or fraudulent
  • Provides access to risk management and loss control services to help prevent accidents and injuries
  • Covers pollution-related claims in case of environmental accidents
Use Cases
  • Bodily injury or property damage to third parties from accidents on your premises or during your operations
  • Legal defense costs if sued by a third party for damages
  • Medical expenses for third parties injured by your operations
  • Protection if an employee is injured on the job
  • Coverage for damage to third party property from your operations or activities like habitat restoration
  • Coverage for pollution liabilities and clean-up costs from accidents during operations

Based on research on average general liability insurance pricing for NAICS code 813312 (Environment, Conservation and Wildlife Organizations), the estimated average annual price would be between $1,200 to $2,500. Premiums are typically calculated based on factors like annual revenue, number of employees, types of activities, and loss history. For a small to mid-size non-profit in this industry, assuming annual revenue of $500,000 – $1,000,000 and less than 10 employees, the estimated price would be around $1,500 – $2,000 per year.

Estimated Pricing: $1,500 – $2,000

Property Insurance

Property insurance provides protection for non-profit organizations focused on environment, conservation and wildlife like those with NAICS code 813312. It covers costs associated with property damage or loss from events like fires, floods, storms or theft to continue important work in land and habitat preservation. It also protects valuable research equipment, buildings and facilities essential to operations, and provides liability coverage if visitors are injured on the property. Estimated annual premiums for this type of coverage are around $2500.

Category List
Benefits
  • Covers costs to repair or rebuild facilities damaged by natural disasters like fires, floods or storms
  • Covers theft or damage to equipment, vehicles and other property used for operations
  • Provides liability protection if visitors or volunteers are injured on your properties
  • Covers loss of income or extra expenses if a location needs to close temporarily for repairs after a covered loss
  • Replacement cost coverage to fully repair or replace damaged property without deduction for depreciation
  • Protects organizations’ valuable assets so they can continue their missions of environmental protection and conservation
  • Covers specialized equipment like research and monitoring devices that would be costly to replace
Use Cases
  • Protection against property damage or loss from fire
  • Protection against property damage or loss from storms, floods, or other natural disasters
  • Protection against property damage or loss from vandalism or theft
  • Liability protection if visitors are injured on their property
  • Coverage for specialty equipment used for conservation work, such as research equipment
  • Coverage for buildings and facilities essential for operations, such as research labs, animal habitats, offices

Based on typical average pricing for property insurance for nonprofit organizations focused on environment, conservation and wildlife, the estimated annual premium would be around $2500. This is calculated based on factors such as having no previous claims, organization being in operation for over 5 years, having property valued under $5 million, and conducting low risk activities like education, advocacy and fundraising.

Estimated Pricing: $2500

Professional Liability Insurance

Professional liability insurance, also known as errors and omissions (E&O) insurance, is crucial coverage for environmental, conservation and wildlife organizations to protect against negligence claims from stakeholders affected by an organization’s work. It covers costs of defending allegations of professional negligence, errors or omissions, even if they are proven groundless.

Category List
Benefits
  • Covers claims alleging professional negligence, errors or omissions
  • Protects against lawsuits from clients claiming inadequate services
  • Covers costs of defending allegations even if they are proven groundless
  • Peace of mind knowing you have coverage if something goes wrong
  • Required by many government and corporate contracts
  • Covers punitive damages in cases of gross negligence
  • Covers claims from past work, preserving assets built over time
  • Shields personal assets like homes, savings, and retirement funds
  • Covers breach of contract claims and failure to meet contractual obligations
Use Cases
  • Protection from claims of negligence in managing lands or performing conservation work
  • Coverage for errors and omissions if providing environmental consulting services
  • Defense costs and damages from claims of copyright or patent infringement in green technology work
  • Liability if an employee is injured on the job or a visitor is hurt on organization’s property
  • Lawsuits alleging negligence, errors or omissions in research, education or advocacy programs

Based on typical pricing structures for Professional Liability Insurance and examining a sample of insurers, the estimated average annual pricing would be around $3,000 – $5,000 per year. Pricing is usually determined based on factors like annual revenue, number of employees/contractors, types of services provided, risk mitigation plans, claims history, and industry experience. For companies in the conservation and wildlife organizations sector classified under NAICS code 813312, an annual revenue of under $1 million would place them towards the lower end of the estimated pricing range provided.

Estimated Pricing: $3,000 – $5,000

Directors And Officers Insurance

Directors and officers (D&O) insurance protects the personal assets of directors, officers, trustees and other individuals who work for non-profit organizations. It is especially important for environment, conservation and wildlife non-profits to consider D&O coverage due to the unique risks their work involves, such as pollution, environmental damage or accidents during protected area management activities. D&O insurance can help these organizations retain qualified leaders by providing protection from litigation risks. It also covers defense costs even if claims later prove invalid, minimizing out of pocket legal expenses for the organization and individuals. D&O coverage is designed to protect the reputation of organizations facing lawsuits by helping manage potential crises through PR and communications support.

Category List
Benefits
  • Protects directors and officers from lawsuits alleging errors, omissions or wrongful acts
  • Reimburses legal costs if a lawsuit is filed
  • Covers crisis management and public relations expenses if needed for a lawsuit
  • Covers loss resulting from claims made against the organization
  • Helps retain qualified directors and officers by providing protection from litigation risks
  • Covers defense costs even if claims turn out to be invalid, limiting out of pocket legal expenses
  • Indemnifies the organization if it is required to financially compensate directors or officers for legal costs from covered claims
  • Protects the organization’s reputation by helping minimize the impact of lawsuits through crisis management support
  • Provides liability coverage for employment-related claims like wrongful termination or discrimination that target both the directors and the organization
Use Cases
  • Protection against shareholder lawsuits alleging wrongful acts, errors, omissions or breach of duty in managing the company
  • Protection against third-party lawsuits alleging wrongful acts, errors, omissions or breach of duty in managing the company
  • Indemnification for legal defense costs if the company is unable to pay for the defense
  • Reimbursement of fines and penalties if the company is unable to indemnify them
  • Coverage for claims arising from acts of pollution and environmental impairment if not otherwise excluded
  • Protection for individuals if the organization fails to indemnify due to bankruptcy or insolvency

Based on typical pricing models used by insurance companies, the estimated average annual premium pricing for Directors And Officers Insurance for businesses in the NAICS 813312 industry would be between $3,000 to $5,000. This price range was derived from considering typical policy limits of $1-3 million, a $5,000 retention or deductible, and organization’s revenue of $1-5 million annually which impacts the risk level and underwriting calculations.

Estimated Pricing: $3,000 – $5,000

Workers’ Compensation Insurance

Workers’ compensation insurance provides critical coverage and risk management for employees and employers in the environment, conservation, and wildlife industry. It ensures employees receive support for job-related injuries or illnesses through medical care and wage replacement benefits while recovering. The coverage also protects businesses from expensive legal costs and reduces risks and liabilities. This coverage is especially important for this industry due to risks employees may face from activities like field work, animal handling, hazardous terrain, and outdoor conditions. It is estimated that the average annual cost for workers’ compensation insurance is $2.50 per $100 of an organization’s total payroll in this industry.

Category List
Benefits
  • Covers medical expenses if an employee gets injured or becomes ill due to their job
  • Provides cash benefits to replace lost wages of injured employees while they cannot work
  • Protects the business from lawsuits if an employee is injured on the job
  • Required by law in all states except Texas
  • Reduces overall operating costs versus paying for injuries out-of-pocket
  • Covers rehabilitation costs if employees need physical therapy or vocational retraining due to an injury
  • Provides death benefits to families of employees who pass away from a work-related injury or illness
  • Reduces turnover by helping injured employees recover fully and return to their jobs
  • Promotes a safer work environment when employers make safety a priority to help control insurance costs
Use Cases
  • Coverage for on-the-job accidents and injuries
  • Coverage for work-related illnesses
  • Medical expenses for injured employees
  • Lost wages replacement for injured employees
  • Vocational rehabilitation benefits

Based on national average workers’ compensation insurance rates for this industry (NAICS 813312 – Nature Parks and Other Similar Institutions), the estimated average annual pricing would be around $2.50 per $100 of payroll. This rate is derived from considering industry risk factors such as employee job duties/hazards as well as average claim histories. Rates may vary slightly depending on individual business factors such as location, number of employees, business operations, safety programs/protocols in place, etc.

Estimated Pricing: $2.50 per $100 of payroll

Cyber Liability Insurance

Cyber liability insurance provides key protections for environment, conservation and wildlife organizations that often collect and store sensitive data. It covers critical costs and legal support associated with responding to cyber incidents like data breaches, privacy violations and network attacks. Some key benefits of cyber liability insurance for these organizations include covering liability and costs from data breaches, privacy violations, network security failures, business interruption due to cyber attacks, and denial of service attacks. Cyber liability insurance also provides access to legal support and guidance in responding to cyber incidents, which can help protect an organization’s reputation in the event of a damaging cyber incident. Common use cases where cyber liability insurance applies include data breaches, network security liabilities, media liabilities, cyber extortion attacks, and business interruption from cyber attacks. The estimated annual pricing for cyber liability insurance for environment, conservation and wildlife organizations is between $2,500 to $5,000 based on their industry, typical technology usage, data storage, customer base size and financial transactions.

Category List
Benefits
  • Covers liability and costs from data breaches
  • Covers liability and costs from privacy violations
  • Covers liability and costs from network security failures
  • Covers costs from business interruption due to cyber attacks
  • Covers liability and costs from denial of service attacks
  • Provides access to legal support and guidance in responding to cyber incidents
  • Protects the organization’s reputation in the event of a cyber incident
Use Cases
  • Data Breach: Covers costs associated with a data breach including IT forensic investigation, legal expenses, notifications, credit monitoring, call center services and more
  • Network Security Liability: Covers liability if a third party alleges that network security failures led to loss of data or systems
  • Media Liability: Covers liability if third party alleges that website or digital communications like social media caused harm
  • Cyber Extortion: Covers ransom payments, IT costs, and other expenses related to cyber extortion attacks aiming to encrypt systems for ransom
  • Business Interruption: Covers profits lost if a cyber attack leads to systems being down and normal operations interrupted

After researching average cyber liability insurance pricing for businesses in the environment, conservation and wildlife organizations industry (NAICS 813312), the estimated annual pricing would be between $2,500 to $5,000. This price range was determined based on organizations in this industry tend to have fewer employees (usually less than 50) and moderate technology usage and data storage. The estimated pricing also took into account that these organizations generally have a smaller customer base and handle less financial transactions compared to other industries.

Estimated Pricing: $2,500 – $5,000

Conclusion

In summary, general liability, property, professional liability, directors and officers, workers’ compensation and cyber liability insurances provide layered protections for environment, conservation and wildlife groups from a variety of risks inherent to their operations and activities. Maintaining proper coverage in these areas can help these non-profits focus on their conservation missions while ensuring risks are managed responsibly.

Frequently Asked Questions

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