Trade Union Insurance
Do you operate a labour or trade union? Labour and trade Union insurance is complex and far from the typical insurance placement which is why ALIGNED is pleased to help trade unions of all sizes and industries find the right insurance policies for them. As commercial insurance experts, we can find your labour or trade union the coverage and protection it deserves.
The benefits of trade union insurance
Labour union insurance offers many benefits, although the primary one is that it provides financial protection against the day-to-day risks of running a labour union. Some of the risks that labour union insurance may protect against include theft, third party lawsuits, property damage, and more. If an incident occurred, and your union did not have insurance, you may be forced to pay for the cost of the incident out-of-pocket. But with the right coverage, your insurer may step in and help cover the expenses, promoting the long-term prosperity of your labour union.
Is trade union insurance for me?
If you run a labour or trade union, then this type of commercial insurance is for you. ALIGNED has a proven track record of helping all kinds of trade unions find great coverage at competitive rates. For example, we can help international unions, national unions, regional or local unions, joint apprenticeship training committees, and more. Contact ALIGNED for more information on the importance of labour union insurance.
Trade union insurance coverage 101
Each trade union has its own unique needs, which means union insurance policies vary. That said, the following coverage types are generally recommended for trade unions.
- Commercial general liability insurance: Commercial general liability insurance, also referred to as “slip-and-fall insurance,” protects against the everyday risks of operating a labour union. Under this portion of your policy, your union may be compensated in the event that someone files a claim alleging third party property damage or bodily injury. In such an instance, your insurance company may cover the cost of medical expenses, repair bills, legal fees, etc. up to the policy limit.
- Commercial property insurance: Commercial property insurance can protect your labour union’s physical palace of business, as well as its business-related contents. More specifically, this coverage can protect against insured perils like theft, vandalism, fire, water damage, etc.
- Cyber liability insurance: If your labour or trade union stores personal information about its members online, cyber liability coverage may be important. With this type of insurance, your insurer may cover the costs associated with a hack, cyber attack, or data breach like credit monitoring, crisis control, client notification, and more.
- Directors & Officers Insurance: Directors and officers or trade and labour unions have a unique fiduciary responsibility to their membership base and directors insurance needs to be carefully crafted to address the unique role, responsibility and risk that come along with being a director or officer or a trade or labour union.
- Fiduciary Liability: Fiduciaries of defined benefit plans and/or all types benefit plans of trade and labour unions face significant risk and exposure which is compounded by the size and importance of the plans and assets under their fiduciary responsbility. Specialized fiduciary liability insurnace is needed to protect the trustees of trade and labour union plans.
Find great trade union insurance coverage with ALIGNED
Want to learn more about labour or trade union insurance? Contact ALIGNED and speak directly with a licensed broker today or click here for a quote.
