Protecting From Directors' Liability

Other Resources FAQ Section Visit our FAQ section. Rates If you are looking for our rates, click here Financial Planning Tool You can also click here to access our on-line financial planning tool.  Financial Fitness Financial advice from OMISTA experts, click here. Small & Medium Enterprise Website CanadasCreditUnions.com Other Non-Profit Organization Topics Registering the Non-Profit Organization Selecting the Board of Directors Developing a Constitution and Bylaws Creating the Organizational Structure Staffing & Payroll Issues Marketing for Non-Profits Gaining Support for the Organization Fundraising Developing a Vision Grants for Non-Profits Accepting Credit Card Donations Dissolving The Non-Profit Need more answers? Visit our contact page and submit your question through the "Who can help me?" link or call one of our financial experts at any of our three branches.

Are You Covered?
Non-profit organizations have a lot of the same insurance needs as regular businesses. If you lease office space, for example, you'll need to consider renters insurance that covers theft and fire to protect any office equipment or furniture that the organization owns.

If you're using a vehicle for operations, make sure you have insurance that complies with the regulations of your province, especially if there will be multiple drivers.

Bond insurance should be considered if you have board members or volunteers working with money. You always hope that you can trust the people wanting to help, but sadly that's not always the case.

If your project involves working directly with the public, you may need liability protection in the event that something unexpected or unfortunate happens.

Special Considerations
As a non-profit, there are a few other types of insurance that may be required

If your organization uses volunteers, you should think about having them covered as part of your original liability agreement. This protects volunteers if they're negligent while performing duties and a client gets injured somehow.

If there are social workers involved in your operation, you'll need to get what is called Social Workers Professional Liability, which covers any unskilled or negligent act resulting in harm to a client.

It's essential for any kind of facility that has a clinic or other medical operation to get Medical Malpractice insurance to protect against a client's lawsuit in the event of any unfortunate incident.

Nobody wants bad things to happen, but that's no excuse for being unprepared. Having the proper coverage can ensure that your good work can go on, even after an unfortunate event occurs.