Arch Insurance Australia (Arch) is delighted to announce the launch of Not for Profit Plus, a combined policy offering a broad range of liability and crime coverage to associations and not-for-profit organisations.
Not for Profit Plus is designed to protect both the entity and office bearers, under six coverage sections with flexible limits. Coverage includes office bearers’ liability, association liability, professional indemnity, employment practices liability, statutory liability and crime protection, including an optional extension for social engineering fraud coverage.
Not for Profit Plus offers limits of up to AU$10 million and the flexibility to tailor coverage to the client’s needs. Claims are managed by a specialist team at Arch, supported by a panel of expert law firms. Not for Profit Plus is expected to be available through CoverHub, Arch’s online quote and bind platform, in 2024.
Commenting on the launch, Paula Ritchie, Underwriting Manager — Executive Assurance, Arch Insurance Australia, said: “We are excited to be able to expand our Financial Lines product offering by offering a tailored solution for Australia’s essential associations and not-for-profit sector. The breadth and flexibility of the liability and crime coverage offered by this new policy is unparalleled in the market. It allows buyers to focus on their missions, members and beneficiaries with the comfort of knowing they are protected against the risk of potential wrongful acts in the management of their organisation.”