Cut Costs on SME Business Pack Insurance Premiums
Running a small to medium-sized enterprise (SME) comes with its unique set of challenges, not least of which is managing costs. Insurance is a significant expense for many business
Non-Profit Insurance covers the defence costs, settlements and judgments arising out of lawsuits and wrongful act allegations brought against a nonprofit organization.
Non-profit Insurance in Thailand for charities and organisations is used to protect them from potential claims or lawsuits despite their good intentions.
Non-profits are known for being advocates for helping great causes. Their charitable work is appreciated by the communities they serve, and the impact of their service is felt far beyond their locality.
However, non-profit organisations and charities are not immune from the law. These organizations can be susceptible to similar risks that for-profit businesses may face, such as third-party bodily injury or property damage and even allegations of negligence in their professional services.
Here are elements of your business model that can make you susceptible to claims and lawsuits. If any of these apply to your business, ensure you have a comprehensive insurance policy:
Non-profit insurance is a combination of various commercial insurance policies that are packaged together specifically for the needs of charities and other non-profit organizations. This insurance can financially cover the organization for liable events and damage to owned property.
A non-profit insurance policy can be customized to suit an organization’s particular needs. However, in most non-profit policies, you can expect the following coverages:
If you are involved with a charity or organization that benefits the community yet you’re unsure about the legalities and want to protect it, reach out to Thailand Insurance Service. We have experts on hand who can handle your queries and help you wade through the policies surrounding Non-Profit Insurance that are relevant to your non-profit charity/organization in Thailand.
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