What you need to know about insurance for lobby groups
Policies vary between lobby groups but experts generally recommend choosing a policy with the following coverages:
- Professional Liability Insurance: In the high stakes world of impacting and influencing political decision making and outcomes lobby groups advocate for the interests of their paying customers and face considerable risk of being held legally liable for a financial loss their clients may incur as results of their efforts and services provided or not provided. This risk is what professional liability insurance also know as E&O Insurance covers.
- Commercial property insurance: If your lobby group operates out of a physical space, such as an office, commercial property insurance is important. This insurance type can protect your office and its business-related contents from damage caused by a variety of insured perils like theft, vandalism, fire, water damage, etc.
- Commercial general liability insurance: Commercial general liability insurance, sometimes referred to as “slip-and-fall insurance,” protects against the day-to-day risks that come with operating a lobby group. With this type of coverage, your group may be compensated in the event of a third-party property damage or bodily injury claim. Specifically, your insurer may cover the cost of medical expenses, repair bills, legal fees, etc. up to the policy limit.
- Liability insurance: Lobby group liability coverage can help pay for the cost of a lawsuit in the event that your lobby group or one of its members is sued. In such an instance, liability insurance can help with defence costs, settlement fees, and more.
- Cyber liability insurance: If your lobby group stores sensitive information about its members digitally, cyber liability insurance may come in handy. This type of coverage can help pay for costs in the event of a hack, cyber attack, or data breaches like credit monitoring, crisis control, client notification, and more.
- Commercial auto insurance: Commercial auto insurance might be an important add-on if your lobby group uses vehicles for business purposes. Commercial auto coverage may include third-party liability coverage, comprehensive coverage, uninsured automobile coverage, accident benefits coverage, collision coverage, and more.
Get ALIGNED with quality insurance for lobby groups
The risks faced by lobby groups are multifaceted and ever-present. From legal challenges and regulatory changes to reputational damage and unforeseen crises, the potential threats are numerous. Having comprehensive insurance coverage is essential for mitigating these risks and ensuring the long-term success of a lobby group. At ALIGNED, we are committed to helping lobby groups navigate these challenges and find the best insurance solutions at competitive rates. Learn more about how we can support your lobby group and help you secure the protection you need.
As commercial insurance experts, you can trust ALIGNED to find the right insurance for your lobby group. Give us a call, explain your insurance needs, and one of our friendly and knowledgeable brokers will shop around on your behalf. Before you know it, you will have a new lobby group insurance policy at an affordable rate. Click Here To Get A Quote or contact one of our business insurance experts for information or with any questions you may have.
