Directors and Officers Liability Insurance for Sports and Recreation Organizations
Liability insurance is essential for all organizations, including sports and recreation. Whether you have a full sports team or a small recreational event, you need liability insurance to cover unexpected events, injuries and accidents. While general liability is available, there are some things not covered by the policy, which creates the need for a policy known as a directors-and-officers liability policy.
What Is Directors and Officers Insurance?
Directors and officers insurance for sports and recreation is a policy that will cover lawsuits and extensive legal costs. While general liability also covers some legal costs, the directors and officers policy is more comprehensive. It will cover legal costs not covered by general liability, such as discrimination lawsuits, not letting a participant play because of a disability which is against the Americans with Disabilities Act, not following the rules and bylaws, and many other types of legal ramifications.
What Sport and Activities Does it Cover?
Coverage for directors and officers liability insurance is extensive and includes all types of legal costs including administrative, regulatory, criminal, and civil lawsuits. It will also cover different sports and activities like basketball, golf, softball, baseball, football, cheerleading, tennis, soccer, wrestling, ice hockey, street hockey, badminton, bicycling, bowling, rock climbing, hiking, diving, cross country, handball, gymnastics, fencing, swimming, and many other activities.
Why Is It Necessary?
There are many different types of claims that could come up with sports and recreation organizations and events that you want to cover and protect. You have worked hard to get your sports organization or teams set up; you don't want to lose it all because of one accident or unexpected event. Even if your director or officer is found innocent of the claim, you will still be responsible for the legal costs, such as paying your lawyer to defend you. Don't let lack of insurance keep you from having a successful team or organization.
Finding Accident Insurance Policies
Directors-and-officers liability insurance policies are common, but when you need them for sports and recreation, it might require a bit more digging. Do an Internet search and contact other sports-related organizations to find references for reputable insurance companies. Don't just go with the first one you find; do proper research about the policies, limits, exclusions, fine print, and the insurance company themselves. Just because a company offers lower premiums, doesn't mean it is a better policy. Get familiar with what a variety of companies, ones like Butler-Vause Insurance, offer in regards to their directors and officers liability policy and make sure you have made the right choice.
Another possibility in obtaining an excellent directors-and-officers liability policy is by contacting an insurance broker that specializes in business insurance policies.