Not-for-profit Insurance

There are many different types of insurance that may be suitable for Not-For-Profit (NFP) organisations in Australia. These include:

• Property/Business Interruption - Covers damage to physical premises and lost revenue after insured events like fire or storm.

• Cyber Insurance - Protects against financial losses from cyber incidents like hacking and malware.

• Volunteer Personal Accident - Covers volunteers for accidental injury or death while volunteering.

• Protector/Association Liability - Provides compensation and legal defense for claims against management or the organisation.

• Public Liability Insurance - Covers claims made against your NFP for injury or property damage to the public.

Benefits for NFPs and Volunteer Management

• Insurance helps protect NFPs from financial hardship if something goes wrong.

• Volunteer Personal Accident insurance covers accidental injuries or death.

• Some contracts require NFPs to hold minimum insurance levels.

• Proper insurance demonstrates responsible management and protects your image.

Applying the Resource:

• Identify the risks and potential problems your NFP might face.

• Select coverage specific to your needs.

• Consult with an insurance broker specialising in NFPs.

Remember: The type and amount of insurance you need will depend on your specific NFP's activities.