On this page
- Introduction to risk and insurance
- Risk management and insurance for community organisations guide
- Indemnity for office holders of Victorian incorporated associations
Introduction to risk and insurance
Organisations should always consider the risks that arise from operating and interacting with others. Risks might involve clients, employees, volunteers, the public and members.
Your organisation may need to develop a risk management strategy, which could include insurance as well as practical steps that can reduce risks. It's important to include risk assessment as a standing agenda item at meetings of the governing body of the organisation, and meetings of staff or volunteers.
There are key times when an organisation should consider risks, risk management and insurance – for example, when an organisation enters into new relationships or conducts new activities.
Sometimes new insurance will need to be purchased or extended, or there may be other steps your organisation can take to alert people of risks and reduce the likelihood of a risk eventuating.
While insurance is an important consideration for not-for-profit groups, sometimes it is required under the terms of a lease or a funding agreement.
Different kinds of insurance address different kinds of risks.
Common types of insurance include:
- workers compensation insurance
- volunteer personal accident insurance
- motor vehicle insurance
- public liability insurance
- product liability insurance
- professional indemnity insurance
- building contents, occupiers insurance
- directors and officers liability insurance
- cyber liability insurance
- fraud insurance
- travel insurance
Our fact sheet is an introduction to risk management and insurance. For more detailed information, see our guide.
Our introductory fact sheet considers:
- the risks of running a community organisation
- measures to avoid or minimise risk
- what is insurance?
- is your organisation required to get insurance?
- which insurance is right for your organisation?
- if things change or go wrong
Risk management and insurance for community organisations guide
Information on insurance and risk management for community organisations is set out in more detail in our guide.
The guide is divided into six parts and covers the following key issues:
- Introduction – the risks of running a community organisation and when to consider these risks
- Measures your organisation can take to avoid or minimise risk
- Insurance – types of insurance and what to look for in a policy
- Risk considerations for activities that involve travel
- Risk considerations for sport and adventure activities
- What happens when something goes wrong?
Indemnity for office holders of Victorian incorporated associations
The Associations Incorporation Reform Act 2012 (Vic) includes an indemnity provision that requires an incorporated association to indemnify its office holders for liabilities they incur in good faith while performing their duties.
Our fact sheet covers the issues that Victorian incorporated associations should consider including:
- what is the indemnity?
- does the indemnity mean you need to take out insurance?
- the risk that indemnity creates and how to manage this risk, and
- directors’ and officers’ insurance
More information
Risk Management Guide and Health Check – A guide for not-for-profits and social enterprises prepared by MinterEllison and published by Koda Capital.
The content on this webpage was last updated in October 2024 and is not legal advice. See full disclaimer and copyright notice.
