April 1, 2009
FREDERICTON (CNB) - The most appropriate insurance coverage for non-profit organizations, at the most competitive rates available, is the goal of a collaboration between the Community Non-Profit Organizations Secretariat, the Insurance Brokers' Association of New Brunswick Inc., and the Insurance Bureau of Canada.
Brian Kenny, minister responsible for the community non-profit organizations secretariat, made the announcement today.
"Insurance can be an expensive necessity for many non-profit groups in our province," said Kenny. "The coverage they require varies between organizations, and they often do not have the resources or the expertise to shop for a package that best suits their needs and budget. These stakeholders have come forward to assist non-profits with access to insurance information and with more assistance in obtaining appropriate and affordable insurance coverage. This will help non-profits with their bottom line and their ability to fundraise and deliver community-based programs and services."
Liability insurance packages include coverage for directors and officers, general liability, group accident benefits for volunteers, and property coverage.
By working more closely with stakeholders in the industry, the sector hopes the process for finding an insurer and acquiring appropriate coverage will be made easier.
"Non-profits need to know whom to approach for insurance and how to get the best value out of their insurance dollar," said Kenny. "They want easy access."
"Our association is glad to help non-profits," said Steven White, president of the Insurance Brokers Association of New Brunswick. "We are available to evaluate risk and advise on their coverage and cost. We can do the shopping so volunteers can get back to their work of helping others."
White said that the Insurance Brokers' Association of New Brunswick Inc. writes 70 per cent of all insurance carried in the province.
"We are committed to providing non-profit organizations with useful information that can assist them in their insurance-purchasing decisions," said Bill Adams, vice-president, Atlantic Insurance Bureau of Canada. "We have recently revamped our website to provide a wide range of easy-to-use information."
Adams said that a recent task force on insurance found that the industry has made positive changes over the past two or three years to better serve the non-profit sector, but a closer working relationship, facilitated by the Community Non-Profit Organizations Secretariat, should allow for even more improvement in New Brunswick.
The secretariat has also been working on establishing multi-year funding agreements for non-profit organizations; reviewing the funding application process to reduce red tape; developing a website that can be used as a resource for non-profits; developing regional networks; and building the relationship between the non-profit sector and government.
More information is available on the secretariat's website, or by calling 1-888-295-4545.
MEDIA CONTACT: Judy Cole, communications, Community Non-Profit Organizations Secretariat, 506-444-3522.