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Insurance is important for organisations of all types, and not just for-profit businesses.
Although associations and not-for-profit groups will face many of the same risks as other business types, their insurance needs are somewhat unique.
We understand that every cent is important when running a not-for-profit, but it’s also important to protect what you have already worked so hard to build.
The right insurance solution should free you up to spend more time doing great work for your organisation, as well as saving you money both in premiums and in the event of a claim.
Association Types
There are many types of associations and groups that can benefit from insurance.
Some of the common groups we can look after with specially designed insurance packages include the following:
- Clubs & Associations
- Registered Charities
- Community Organisations
- Cultural Organisations
- Disability Support Groups
- Animal Welfare Societies
Of course these aren’t the only groups that can be looked after, so if yours isn’t listed above please get in touch as we will still be able to help in most cases.
Insurance Types
When it comes to insurable risks there are two main ones for any organisation to think about:
- Having your organisation’s property stolen or damaged
- Causing personal injury to another person as a result of your organisation’s activities
Most risks will fall into these two categories. Basically it’s all about protecting your own property and protecting yourself in the event that someone else suffers a loss where you are at fault.
So what types of insurance can protect your not-for-profit group from these risks? We have listed the most common policy options below:
Having your property damaged or stolen
- General Property
- Theft
- Contents
- Glass
- Money
Negligence resulting in another person suffering a loss
- Public Liability
- Professional Indemnity
Other potential risks
- Business Interruption
- Tax Audit
- Machinery Breakdown
- Directors and Officers
Whether or not your association needs all or just some of the policies options listed above will depend on the type of activities that you are undertaking.
An insurance broker will be the best person to speak with about your needs, and preferably a broker who has experience with associations and not-for-profit groups.
Whilst the big name insurers will often be able to assist such groups, there are specialist insurers and underwriters operating in Australia who can provide a more specialised approach to your needs.
More Information
If you would like to review the insurance needs of your existing group, or if you are establishing a new group, the best option is to speak with a specialist insurance broker.
We can put you in touch with a suitable broker who has experience in association and not-for-profit insurance.
They will be able to help you by analysing your needs and the risks within your group, and then making recommendations on the most effective and best value solutions for you.
A good broker will also be there to assist you in the event that you do need to claim on your insurance, which can free you up to keep doing the great work that you do.