Numerous organizations,
including not-for-profit ones, professional bodies and groups that represent
trade industries, amongst all others, are considered to be
"associations". They are responsible for a great variety of
activities, and their ever-increasing importance is a testimony for their
significance for the community. And with their growing significance, there is a
notable increase in liability and both individuals as well as the associations
can be held responsible for the errors or mistakes they have committed, despite
their charitable or non-profit nature. Adapting to the ever-changing legal
environment requires a versatile protection, and association liability insurance
is exactly that.
What Are the Risks
Associations Face
Associations can be sued
for a variety of reasons, some of which include ineffective administration,
inadequate supervision, discrimination, employee theft or misuse of assets. The
list is almost endless, so ensuring a proper protection is essential for each
and every community organization. But it is not only the association in risk,
its members, including voluntary workers, board members, the management
committee and officers are also legally liable for their actions and decisions.
And this is where association liability
insurance comes into play - they are every organization's first and most
important line of defense. Association
liability insurance comes in various forms and depending on the needs of
every association, they can cover almost all risks organizations face.
A Variety of Insurance
Solutions for Every Association
Liability of directors
and officers, cover of fidelity and tax audit, as well as fines and penalties,
documentation loss, property damage and personal injury are just some of the
protection association liability insurance provide.
They usually come in different packages to suit the needs of every association.
The officers liability package covers executives' personal liability against
claims, professional indemnity covers the organization against claims for
financial losses or damages due to negligence. Almost every insurer out there
offers a custom selection of packages under different names and with different
covers, so every organization will most likely be able to find exactly what it
needs.
Association Liability Insurance is a Necessity
The risks for
associations are increasing every year and organizations have to ensure their
safety and the safety of their members. Every member, even past directors and
workers, can be held personally responsible for their actions and failing to
protect them can be devastating both for them, the reputation of the
association, and for the organization itself. With the help of association
liability insurance, every not-for-profit or charitable organizations
can ensure its future and the safety of its members. This is no longer an
additional safety measure; it is a necessity for every association.
Contact Us :
Address : 816 A1A North , Suite 206 , Ponte Vedra Beach, Florida 32082
Email:
information@ciuins.com
Phone: (904) 285-7683
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