We are pleased to announce the launch of our Management Liability Insurance for Associations & Foundations policy.
Recent legislative changes have left Directors & Officers of Not for Profit Entities more exposed than ever to liability claims. All associations and foundations are now considered Enterprises. The new Book XX of the Economic Law Code applies to all enterprises, which makes that all VZWs/ASBLs can now be declared bankrupt. Moreover, the new company law will now also apply to associations, which will mean that the same liability rules will apply, including joint and several liability, … As a result, and in addition to measures to professionalise directorships, Directors & Officers Liability Insurance has become a must.
Beluga Management Liability Insurance Associations & Foundations has been designed with these entities in mind, including covers for the entity itself under its Corporate Legal Liability section.
Specific features for Associations & Federations
- Language adapted to Associations & Foundations
- Clauses with regard to changes in legal structure adapted to Associations & Foundations
- Subsidiaries and participations of Associations & Foundations are also included
- Underwriting linked to the legal definitions of small/large/very large Associations & Foundations
Stay tuned for new covers specific to Associations & Foundations in the near future.
You can click here to access the following documents:
If you want to receive the policy wording or any additional information, please contact Beluga.
Of course, this product is also available on Beluga Online, our broker portal where you can get a quote 24 hours a day.