Just as much as non-profit organisations (NGOs) strive to give back to the community, it is also important that you, the owners, receive enough security to run them. This is where not for profit insurance becomes handy, to guarantee returns and provide long-term assurance for your care-giving cause!
NGOs provide sustenance and support to a particular society but it’s also important that they too get the right support! These organisations would need the ideal assistance in the form of risk management and investment to keep performing their tasks.
NGOs, by definition, operate for the collective so they need the collective to operate for them, too! The right type of insurance will help with this so that you can run your entity and reach your long-term goals.
NGOs have Owners and Directors
Any NGO can suffer an unplanned financial loss, some illicit activity or damage to property. So, it is essential that as an owner or director you are protected by laws and policies related to insurance claims.
If a shareholder or lender loses their investments due to alleged misappropriation or misuse of funds by an NGO, then the board members or owners can be sued. Certain insurance policies will then be able to cover the costs of damages and the defenses of such a pending lawsuit.
It is all about security for you and your NGO!
Protection of Volunteers and/or Employees
Certain volunteers or employees hold themselves liable and accountable to an NGO and various insurance policies will protect them against:
– Inaccurate termination
– False accusations
– Sexual harassment
– Unfair work conditions
Volunteers at an NGO are just that—people who choose to assist the organisation in their cause to serve the community. You should therefore protect them accordingly. If children are involved in your NGO, they would also need careful and considerate protection since they’re vulnerable.
Protection of Property
Property is expensive and all NGOs need a good working space. If an accidental fire started from the kitchen or a candle-lit church service, then it is paramount that the building was insured beforehand.
Property insurances will also guarantee returns in the case of theft or damage to equipment, appliances or office supplies. Musical instruments on stage and tech equipment used to conduct services in churches are rather vulnerable, so you would then need a type of church insurance that will reduce risks.
Many NGOs don’t always have the best security measures in place. Therefore, it is vitally important that you at least have the ideal insurance policies to protect your interests!
Injury on Duty
Some NGO duties and tasks can be tedious, from carrying heavy items to climbing scaffolding to put up lights, decorations or anything else, the risks are always there.
If anyone gets injured while doing their duties or volunteering on your premises, it is best you have their medical expenses covered. There are insurances that will cover injuries relating to the property or NGO duties that workers and volunteers perform.
Some NGOs operate within risky and dangerous environments to try and help those who are suffering in these situations. Your NGO will need protection against some of these dangers by adopting extension policies that have you covered in cases of political unrest and other forms of violence.
Protection Against Crime
Any organisation is vulnerable to crime, even by their employees, volunteers or directors. A form of crime insurance will protect your NGO from any criminal act committed by these individuals, which include fraud, embezzlement and forgery.
As mentioned above, NGOs tend to be more vulnerable. So never underestimate the need for measures that will protect the organisation against the impact of wrongdoing.
Are you involved in carrying out duties such as the following?
- Delivering food parcels
- Delivering supplies
- Transporting of people
Then your volunteers would need to use vehicles—and that requires insurance cover!
Certain vehicle insurances are vital to protect personal cars, vans and trucks used by volunteers to partake in duties. It can cover incidents both on and off the NGO premises, since you may have to drive to different areas to deliver services.
Since vehicles are critical to their jobs, those that operate the vehicles also need protection against damages or crime.
Protection Against False Claims
If the people or clients you’re servicing make false claims against you, such as your working standards, then you would need protection against this risk. There isn’t much worse than the credibility of your NGO being destroyed, so you would need to ensure that you are covered in terms of protecting your identity and brand.
There are many factors within an NGO operation that you can’t always control, especially because of lack in resources such as equipment, budget and staff.
At the end of the day your mission is to help the community and if one thing goes wrong, that dream can become destroyed. The right insurances will prevent your NGO from a sudden and unplanned collapse.