Not for Profit Insurance
Insurance cover options for NFP
The dynamics of a ‘Not for Profit’ are quite different from that of a profitable business. A ‘NFP’ tends not to have employees, being mainly made up of volunteers; of course, some have paid employees, but most are people who give up their time for a good cause to help those less fortunate.
In saying that, running an ‘NFP’ still carries with it the potential for loss, damage or injury risks. There are a number of insurance policies on offer for ‘NFP’ to cover various associated risks that can affect the Office Bearers and/or the voluntary members of the group.
Association Liability
The covers under this policy are office bearers liability, professional indemnity, fines & penalties, named insured liability, tax audits, & defence costs.
General Liability
Some of the covers included or offered are damage to property or injury to someone, member to member liability, public relations expenses, & workplace trauma.
Voluntary Workers
It covers loss of income, home help, non-medicare medical expenses, out-of-pocket expenses, workplace assault or trauma, & corporate image protection.
Business Insurance
The ‘NFP’ group may run a goodwill shop, so they may need to protect the premises, contents, stock, glass or other risks. Refer to ‘Business Insurance’ for covers available.
Get the right cover
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