Running a sports league or organization involves managing various risks, and ensuring you have the right insurance coverage is paramount. The SODA Insurance Program offers a suite of policies designed to protect your organization, volunteers, and participants. This guide will walk you through the key offerings of the SODA program, helping you understand the essential coverages available.
General Liability & Excess Accident Coverage: The Foundation of Protection
The cornerstone of the SODA Insurance Program is the General Liability and Excess Accident Coverage. This fundamental policy is required to access any additional coverages within the program. It provides broad protection for your organization, covering common risks associated with sports activities.
Enhance Your Protection with Additional Coverages
To further safeguard your sports organization, SODA Insurance offers several optional add-on coverages, each tailored to specific needs:
Directors & Officers Liability: Protecting Your Leadership
Directors & Officers (D&O) Liability insurance is crucial for shielding your league and its leadership from lawsuits arising from their actions and decisions. This policy protects the organization itself, along with its directors, officers, and volunteers, against claims of wrongful acts in the management of the league. Potential lawsuits covered by D&O insurance can include:
- Discrimination claims: Allegations of discrimination based on age, sex, disability, or other protected characteristics.
- Wrongful termination or suspension: Lawsuits from personnel or players claiming unfair dismissal, rejection, or suspension.
- Exceeding authority: Actions taken by directors or officers that go beyond the powers granted in the league’s bylaws.
- Failure to deliver services: Claims arising from the league’s inability to provide promised services.
- Violation of laws: Allegations of breaching state or federal regulations, such as antitrust laws, IRS rules, or EEOC guidelines.
- Suppression of rights: Claims related to the violation of First Amendment rights, such as freedom of speech or expression.
- Financial mismanagement: Lawsuits concerning the improper handling of the league’s finances.
It is strongly recommended to report any claim or written demand for damages, regardless of perceived liability. Insurance company attorneys are best positioned to assess liability and manage the legal process.
Crime Insurance: Safeguarding Your Organization’s Assets
Crime Insurance is designed to protect your organization from financial losses due to dishonest acts by volunteers. This coverage applies to theft of money, securities, or property like equipment, machinery, and concession supplies. It also includes losses from forgery committed by an identified officer or volunteer.
It’s important to note that Crime Insurance does not cover vandalism or theft of property by individuals outside of your organization.
Equipment Insurance: Protecting Your Essential Gear
Equipment Insurance provides coverage for loss or damage to your sports equipment caused by various perils, including fire, theft, vandalism, and other specified events, as detailed in the policy terms and conditions. Claim payments are based on the Replacement Cost Basis, ensuring you can replace damaged or lost equipment with new items.
Applying for SODA Insurance: Getting Started
To apply for SODA Insurance, you can typically download the application forms and submit them along with the required documentation. For specific application instructions or to access application forms, refer to the official SODA Insurance website or contact their customer service.
Faxed Checks Accepted: SODA Insurance often accommodates faxed checks for premium payments. Check their website for specific instructions on how to properly fax a check for payment.
Conclusion: Secure Your Sports Organization with SODA Insurance
The SODA Insurance Program offers a comprehensive suite of coverages tailored to the unique needs of sports organizations. From foundational General Liability to specialized coverages like Directors & Officers and Equipment Insurance, SODA provides the protection you need to operate with confidence. By understanding these offerings, you can ensure your league, volunteers, and participants are well-protected, allowing you to focus on the love of the game.
