Insurance and Risk Management

1. Club Treasurer Training| 2018-2019 Insurance and Risk Management Training for SIAs US and Canadian Club Treasurers Club Treasurer Training| 2018-2019

2. Presenter Michelle Evans- Assistant Vice President Michelle is an Assistant Vice President with the Aon Association Services, a division of Affinity Insurance Services, Inc. She has over 20 years of property & casualty insurance experience and joined Aon in 2000. Michelle is the program manager of the ASAE-endorsed Association Office Package program which provides all lines property & casualty coverage to the nonprofit trade & professional association community. Club Treasurer Training| 2018-2019

3. Learning Objectives • Definition and Components • Unique Association Exposures • Key Policy Features • Event Do’s and Don’ts • Common Claims/Real-Life Examples • Mitigating Risk Michelle Evans, Assistant Vice President

4. Agenda • Question and Answer – Audience Participation • Review of Common Questions and Common Claims • Steps to Mitigate Risk

5. Club Insurance Coverage • General Liability • Liquor Liability • Sexual Molestation Liability • Non-Owned & hired, hired Automobile Liability Coverage • Umbrella Liability

6. General Liability Insurance • Protects against third-party bodily injury and property damage claims arising from an association’s premises or operations, and off-site meetings. Who forgot to mop the floor?!

7. Mitigating Risk • Risk Management Role • Incorporate the role of “risk manager” into someone’s position, logically the person responsible to coordinate insurance matters with insurance broker • Conduct a Diligent Contract Review • Ensure you are not agreeing to contract language that obligates you to verify coverage limits and coverage types not in force and/or obligates you to purchase additional coverage • Importance of “hold harmless” clause

8. Mitigating Risk • Know your event exposure • Obtain certificates of insurance from all exhibitors & vendors naming your association as an additional insured • Liquor Liability – limit exposure by having established catering company or hotel property staff serving liquor. If you are serving alcohol, limit number of drinks and bar time.

9. Additional Coverages • Directors & Officers Liability Insurance • Crime Insurance • Special Event Liability Insurance

10. Forms When, Where & Why? • www.soroptimist.org/for-clubs-and-members/for-clubs/forms.html • Insurance Event Questionnaire • Certificate of Insurance

11. Event Do’s… • Do’s • Do share your draft contracts with your insurance broker to review the insurance provision and give you feedback. • Do have your insurance broker confirm the extent of insurance coverage in place for all events and have them outline what types of events may not be covered. • Do obtain certificates of insurance from all exhibitors and vendors naming your club and the national office as an additional insured with respect to the event(s). • Do establish a contingency plan in tandem with the event venue(s) to be used in the case of a natural disaster. • In the event of a claim, prompt and formal notice in very important. • Notify your insurance broker and insurance carrier immediately

12. …And Don’ts • Don’ts • Don’t wait until the last minute to request a certificate from your insurance broker for an event where you have an executed contract. • Don’t agree to providing evidence of insurance coverage unless you have an executed contract AND confirmation that you have the proper insurance coverage in place. • Don’t agree to blanket wording within a contract that obligates your association’s insurance coverage to be primary. Primary language obligates your association’s coverage to step in even if the other party is negligent. • In the case of a potential cancellation of an event, do not make any commitments/decisions to cancel the event or refund exhibitor/registrant fees without first speaking with your insurance broker and/or insurance provider.

13. Certificate of Insurance

14. SIA Events • When Can I complete a Certificate? • What events can I complete a certificate without the aid of my insurance broker? • When should I contact my insurance broker and seek additional assistance?

15. Questions?