EDA Insurance Program

EDA Insurance Program

Published On: June 18, 2019

Last Modified On: August 12, 2021

EDA Insurance Program

Riding associations are not covered by LPC insurance, as they are registered as independent entities. However, LPC has negotiated insurance options for riding associations through Rhodes & Williams Insurance Brokers.

 

GENERAL LIABILITY INSURANCE

Premium $510 + applicable provincial tax.

General Liability Insurance (GL) is the standard liability policy for the majority non-profit as well as for-profit organizations. It provides coverage for claims and/or defence costs for your actual or alleged legal liability for bodily injury incurred by others, as well as damage to tangible property of others arising from your premises, or operations. The policy also includes coverage for Tenant’s Legal Liability Insurance to pay claims and/or defence costs for your legal liability from damage to rented premises. Also included is Non-Owned Automobile Liability Insurance to pay claims and/or defence costs for injuries or damage suffered by others due to the negligent operation of automobiles used by EDA employees while engaged in EDA activities. The policy does not cover Liquor Liability and Liability for Libel, Slander, Defamation claims. Certificates of Insurance to confirm this coverage are available for activities of the EDA where required by others.

For Liquor Liability, alternative arrangements can be made to obtain coverage for individual events. Please contact Terri Chapman or Dawn Senior for details at (613) 226-6590 ext 226/302 or 1-888-391-8379.

DIRECTORS’ AND OFFICERS’ LIABILITY INSURANCE

Premium $410 + applicable provincial tax.

Directors’ and Officers’ (D&O) Liability Insurance provides funds to pay for claims and/or defence costs to protect EDA directors and officers from liability for real or alleged wrongful acts related to their D&O activities. The policy also provides funds to reimburse the EDA for claims paid to protect the directors and officers. Because the legislation setting up the EDA’s doesn’t address the responsibilities of directors and officers other than as respects the specific requirements of the Elections Act, this is a grey area. Are directors responsible if a loan borrowed to finance a campaign remains unpaid after the 3 year repayment period when it reverts to the EDA if there’s insufficient money to repay it? Can directors and officers be sued personally as a result of replacing an inactive director in favour of a new one? D&O liability insurance is the last line of defense protecting your D&O’s personal assets.

PROPERTY INSURANCE

Premium $260 + applicable provincial tax.

Property Insurance covers contents of every description on a broad form basis for up to $20,000 and includes numerous extensions. Extra expense insurance is also included for $25,000. Crime insurance for employee theft is included for $10,000. Theft of money and securities is covered for up to $5,000. Some deductibles apply.