A GUIDE TO ASSOCIATION LIABILITY INSURANCE
Even non profit associations need protection
Serving on today's charitable and non-profit organisation comes with increased responsibilities. Regulations have changed such that today associations can be exposed to more legal liabilities than ever before. Individuals on association boards can now be personally liable for their actions, so you need to cover yourself now.
So if you're part of the management team, you need to know your legal responsibilities and how you may be exposed to personal litigation as a result of your position.
Association Liability Insurance can help
Firstly, Association Liability Insurance can protect the association against the threat of litigation. It can also protect individual directors, officers and committee members against their legal liabilities incurred when performing their duties for the association.
It covers legal costs
Litigation con be expensive and can deplete the financial resources of even substantial charitable and non- profit organisations. Fortunately Association Liability Insurance can fund the up-front costs of defending litigation, covering legal fees and relate expenses.
Specialised Legal Representation
You need access to specialised and highly qualified legal practitioners to represent you and protect your interests.
Protection that goes further
With today's increased responsibilities and greater corporate regulation, you need a comprehensive insurance solution. Directors and Officers Liability Insurance has been created specifically to cover the personal and financial strain of litigation or prosecution.
In response to this growing need QBE has developed a comprehensive Association Liability Insurance product designed to meet the contemporary needs of clients.
Association Liability Insurance affords automatic cover for:
- Civil proceedings
- Successful defence of criminal proceedings
- Trade Practices actions
- Occupational Health & Safety actions
- Breach of contract
- Libel and slander
- Infringement of copyright
- Fraud and dishonesty
- Loss of documents
- Insured v Insured
- Employee actions
Association Liability Insurance can also be endorsed to include cover for:
- Outside Directorships
Association Liability Insurance incorporates the following policy features:
- Unlimited retroactive cover
- Advancement of defence costs
- Additional reporting period
- Severability and non-imputation
- Extended definition of Insured
The policy can also be endorsed to provide an “Increased Aggregate Limit of Indemnity”, effectively doubling the amount of cover available.
While we accept that associations and their management will take appropriate precautions to minimise the threat of litigation or prosecution, the potential risks faced by associations cannot be ignored.
Association Liability Insurance provides associations with peace of mind in the knowledge that should they be faced with the prospect of litigation or prosecution, the insurer will afford them every possible assistance and support in protecting the assets and reputation of both the association and those responsible for its management.