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Association Liability Insurance
Association Liability Insurance provides protection to the association against legal liability which it may incur through the conduct of its activities or the provision of services.
As well as protecting the association against the threat of litigation, Association Liability Insurance also protects the directors/office bearers, management, or committee members of the association against legal liability that they may incur personally through the performance of their duties to the association.
An Association Liability Insurance policy contains several coverage sections. These vary among insurers, but generally include the following:
- Professional Indemnity
- Directors and Officers Liability
- Employment Practices Liability (unfair dismissal, discrimination, harassment)
- Fidelity (embezzling funds)
- Tax Audit
Who needs Association Liability Insurance?
Any of the following associations should strongly consider taking out an Association Liability policy:
- Incorporated Associations
- Not For Profit Organisations
- Community/Sporting/Social/Cultural Groups
- Industry Associations
Important Tips
Despite the non-profit or charitable nature of many associations, the risks they face have increased significantly in recent years. In addition, members of the associations board of management or management committee carry personal responsibility for their actions (or failure to act), which, in the absence of an Association Liability policy, can place their personal assets at risk.
Litigation today is often expensive and lengthy, and given the limited resources of most associations, such action could cause financial devastation. Association Liability Insurance can protect against the financial consequences of litigation.
More Information
To obtain a quotation or further information on Association Liability Insurance you can contact one of our experienced insurance brokers on 1300 503 503.
Alternatively, click here to complete an Association Liability Insurance quote request online.