Resources: Client Service | Media & Publications Centre | Advocacy | Links | Search

resources

|

Insurance for Community Organisations & NFPOs

1) CHECK YOUR CURRENT INSURANCE POLICY FIRST - what have you got and what do you need?

2) CHECK TO SEE WHETHER YOU ARE ALREADY COVERED BY INSURANCE - e.g. you might be covered by a government department or other organisation

3) PRESENT A CREDIBLE INSURANCE RISK - identify to a potential insurer your risk management strategies and risk/claims profile

4) ENSURE THAT YOU LET INSURERS KNOW WHEN YOU HAVE ALREADY OBTAINED QUOTES - this not only gives you an effective starting point to negotiate it establishes that you are considered to be a credible insurance risk

5) DON'T LEAVE THINGS TO THE LAST MINUTE - desperate times require drastic solutions - don't try to renew your insurance at the last minute when you are forced to accept whatever is offered to you - allow time for insurers to consider your organisation and your risk profile

6) READ CAREFULLY ALL DOCUMENTATION AND COMPLETE FORMS THOROUGHLY - this will ensure the quickest response

7) PROVIDE SUPPORTING DOCUMENTATION - if you think it will assist your application - this might include details as to your risk management strategies etc

8) COMPLETE ALL FORMS TRUTHFULLY AND ACCURATELY - if you do not, not only might you not get insurance, if you do and you have to make a claim the insurer might avoid having to pay the claim

9) CONSIDER THE POSITION OF THE INSURER - and provide the information required accordingly - in other words put yourself in the shoes of the insurer and anticipate what information the insurer will require in order to maximise your prospects of negotiating a satisfactory deal

10) ALWAYS ACT PROFESSIONALLY AND COURTEOUSLY - you might find a quotation excessive or disagree with the insurer's reasons for such a quote or in fact declining to quote - always remain polite. Offer to co-operate with the insurer by eg implementing/improving your risk management systems.

…AND FINALLY

Many community organisations and NFPO's have cash flow concerns and may find high premiums cause problems in terms of immediate payment. Investigate with the insurer the prospects of paying on a regular basis over an extended period of time.