Introducing: Associations Liability solution for clubs, associations and not-for-profit officers
We are very pleased to announce the latest addition to our product portfolio, our Associations Liability Insurance policy.
This policy offers coverage for elected officials of community, sporting, and governing bodies, which play a vital role in the social fabric of New Zealand. It's purpose is to help associations of all sizes, and their office holders, with affordable protection against liability, substantially reducing the risk faced by individuals, it also encourages and provides comfort for future officers to take on office.
Delta Insurance New Zealand’s General Manager Dinesh Murali says: “The company constantly scans the market for opportunities where insurance solutions can add value to the clients. While freely available, professional indemnity insurance for directors and officers to date was just far too expensive for the local rugby club or amateur dramatics society. In these circumstances, any elected officials effectively faced the prospect of being held personally liable in the event of any incident affecting property or person.
**We’ve looked at this gap in the market and designed accessible, affordable and above all, easily secured cover. This ensures that individuals taking office can stay fully focused on adding value to their associations without worrying about liability.” **
Delta Insurance Underwriter Kelly Stephen notes that the people who take on official roles for community, sporting and governing bodies are generally unpaid, yet make a substantial contribution to keeping these organisations running.
“It’s already a big ask in terms of the contribution of time and expertise. We’ve seen skilled members of the community step up time and time again, but often they take on significant responsibilities beyond the execution of their immediate duties. That includes shouldering liability for risks which, while they don’t often eventuate into incidents, are nevertheless constantly there in the background.”
These risks are familiar to any elected officer and extend to issues including mismanagement of funds, privacy breaches, breach of duty, professional indemnity, injuries to employees or members, defamation, and allegations of improper or inaccurate advice.
Our Association Liability Insurance offers protection for the insured organisation, elected representatives, and committee members. It can include cover for professional breaches and ‘quasi-judicial’ investigations, extending to external positions at the request of the covered organisation. Cover provides for loss and defence claims against the insured parties, including for Breach of Professional Duty, with capacity of up to $10 million in the aggregate, and $300 million for companion General Liability.
“With this policy, we want to make quality insurance cover available to any and every association across New Zealand. We don’t believe personal risk and liability should accrue to the good people who volunteer their time and effort to keep clubs and associations running; if you’re involved in a committee, talk to your broker today.”
The great thing about this policy is that it can be combined with our Optima package further providing quality insurance cover that can be tailored to suit the needs of each Association.
Our new policy joins Financial Lines and is available immediately, for more information and to download resources head to our Associations product page.