Community Underwriting's Association Liability Insurance is designed to protect a not for profit or community organisation and its directors, office bearers, employees and voluntary workers for liabilities that arise out of the operation of the organisation.
Some of the features of our Association Liability insurance include:
- Employment practices cover (including third party employment practices liability)
- Directors & officers Liability
- Professional indemnity cover
- Libel and slander cover
- Tax audit cover and fidelity cover (including third party crime)
- Fines and penalties cover
- Loss of documents
- Outside directorships, trusteeships and committees
- Investigations costs
- Occupational health and safety defence costs
- Extended cover for retired directors and officer bearers
It’s the key responsibility of a not for profit Board of Directors or Management Team to steer the organisation to accomplish its mission, while fulfilling a legal duty to utilise the organisation’s assets prudently.
These assets could include:
- People (eg. Board members, volunteers, employees, clients and the general public)
- Property (eg. buildings, equipment, materials and facilities)
- Income (eg. grants and contributions)
- Goodwill (eg. the organisation’s reputation and its ability to appeal to prospective volunteers and raise funds)
Of course, it is also the Management Team or Board’s tremendous responsibility to ensure these assets are protected. Yet community organisations run the risk of being sued for alleged transgressions such as:
- Incompetent supervision
- Ineffective administration
- Misuse of assets
- Discrimination and / or harassment
- Employee wrongful termination
- Employee theft
- Plus many more
Minimising risk through carefully defined organisational and Board processes can assist greatly, but it’s still important to ensure your organisation is protected with appropriate insurance, in the unfortunate event of a legal action.
Association Liability Insurance is the solution. It offers financial peace of mind and helps to ensure your organisation will be able to continue to operate long into the future, doing what it does best: helping the community.
Does your organisation have Association Liability Insurance as part of your insurance program? If not, your Management Team or Board could be at risk.
Contact your broker to provide more detailed advice on how an Association Liability policy can provide protection for your organisation, its Board and office bearers.
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