Not-for-Profit Liability Insurance, Collingwood, ON
Not-for-profit liability insurance can help to offset or defray costs and prevent organizational leaders in Collingwood from being held personally responsible for fiscal requirements.
While many of us have charitable organizations that we support in various capacities, it is also important to know that as a volunteer, committee member, board chair or officer, there is a risk for personal liability if legal action is ever taken against the organization. Not-for-profit organizations are bound by legal covenants locally and federally and therefore must adhere to the legal requirements for their organization type. At Noble Insurance, we understand that supporting your preferred charitable organizations is important to you. We also believe that having protection for your personal assets as you serve in some capacity may be vital. One way we can help you enjoy greater peace of mind while also continuing your supportive role is by providing not-for-profit liability insurance to meet your needs.
Not-for-profit liability insurance may be especially helpful in several different scenarios. For example:
- Situations in which government funding is lost and an organization must file bankruptcy
- When legal counsel must be sought to mitigate a wrongful termination of employment claim
- If a donor feels their monetary gift has been misused.
Each of these scenarios can lead to liabilities for board members, officers, and other individuals, and not-for-profit liability insurance can help to offset or defray legal costs and prevent organizational leaders from being held personally responsible for unpaid taxes, wages, or other fiscal responsibilities.
At Noble Insurance, we are here to help you determine whether not-for-profit liability insurance is in your best interest and help you build a policy that provides the protections you need in Collingwood, Ontario. Please call or come in and see us today!
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