Association liability insurance is essential for not-for-profit and volunteer organizations, providing crucial protection against claims that could seriously harm the organization.
Importance of Coverage
- Obligations to Volunteers and Public: Despite their not-for-profit status, volunteer organizations have similar obligations to their volunteers and the public as profit-making businesses.
- Risk of Legal Costs: Defending claims, even unsuccessful ones, can result in substantial legal costs. Proper insurance is a safeguard against such financial burdens.
Key Considerations for Insurance
- Managing Volunteer Risks: Given the nature of volunteer work, maintaining consistent OHS training can be challenging, increasing the risk of injury claims.
- Effective Training and Monitoring: Implementing suitable training programs, such as cloud-based solutions, and careful monitoring of volunteer activities are important steps in reducing liability risks.
Sydney Insurance Brokers has a team specializing in association liability, adept at addressing the unique insurance needs of voluntary associations. They assist in evaluating and securing comprehensive insurance cover for these organizations.