Community and Not For Profit
From Melbourne to Australia-wide, cover your NFP activities and services
Not for Profits range from local volunteer organisations to national and international charity organisations.
Australia has over 60,000 registered charities. Across Australia each year, volunteers contribute approximately 489 million hours to the community.
In addition to achieving their mission, Not for Profits must manage risks and deal with red tape just like a commercial business. Often, Not for Profits are subject to public scrutiny beyond that of a commercial business.
This makes getting the right insurance advice all the more important in order to protect the assets, reputation, volunteers and board members of the organization.
Tempo Insurance Group have experience advising Not For Profits on insurance requirements tailored to the needs of their organisation.
Key Risks for Not For Profit
Public Liability
Public Liability Insurance covers your legal liability to third parties for product damage and bodily injury caused by your activities. The policy can also cover legal fees you incur to defend yourself.
In Australia, Evidence of Public and Product Liability may be requested by your landlord or when you are using a public space for fund raising or other activities.
For example, if someone slips or falls at your property or event, they could take legal action against you. Public and Product Liability would provide protection for your organisation.
Association Liability
These days, managing a Not for Profit can be a full time job – And that’s before you even think about achieving your mission.
Employment law, cashflow, taxation, company law, health and safety, cyber security and even more red tape are just some of the things to be concerned about. The same law and regulations for commercial businesses also apply to the Community and Not For Profit sector.
And the scary part – Directors can be personally liable to prosecution and fines for breaches of the above.
Association Liability covers non-profit entities for claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination), crime (theft by employees or third parties), tax audit and statutory liability (fines and penalties).
Cyber Risk
Not for Profits are under attack – Cyber Attack.
Community and Not-for-profit organisations may hold sensitive personal information about members, clients and volunteers. This information is gold for cyber criminals who can sell this information or use it to commit online crimes.
Cyber insurance covers the costs associated with cyberattacks, including ransomware, data breaches, and system recovery.
Personal Accident
Personal Accident insurance accidental injury that occurs in connection with your organization. Cover can include income replacement and capital benefits for death or disablement.
Cover can be arranged for your volunteers, members, participants and clients.
How Tempo Insurance can help
Is your insurance program fit for purpose?
Too often, “off the shelf” policies lack advice and an understanding of your NFP organisation.
Tempo Insurance Group have experience advising Not For Profits on insurance requirements tailored to the needs of their organisation.
- Disability services
- Religious groups
- Cultural groups
- Health
- Clubs
- Sport and recreation
- Industry groups
Contact us for a quote or more information
Frequently Asked Questions about NFP Insurance
My organisation is covered under the VMIA Insurance Community Service Organisations Insurance policy, do we need additional insurance cover?
It depends. You may have some activities and risks which are not covered by the VMIA policy. We can review your operations and cover in order to provide advice tailored for your organisation.
Does my not for profit organisation need Directors and Officers insurance?
Directors of a Not-for-Profit organisation have special responsibilities. Even if you serve for no salary, a Director must act with reasonable care and diligence and for the best interests of the organization.
Director and Officers insurance is a package available under an Association Liability policy.
Association Liability covers non-profit entities for claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination), crime (theft by employees or third parties), tax audit and statutory liability (fines and penalties).