CFA Policies

CHAPTER INSURANCE POLICIES

 In an effort to help CFA Chapters manage operating cost, CFA has established an insurance program to provide both

  • General Liability with Great American Insurance Company.
  • Directors and Officers with "The Harford" via ASAE

All CFA Chapters will be listed as additional insured on the CFA Insurance Policy, therefore saving chapters a considerable amount. The cost of this service is $500 a year, a significant discount.

Contact Tim Atkinson for more information.

 

EVENT INSURANCE

It is extremely important for each Chapter to carefully review all contracts that are entered into in
conjunction with all social events (holiday parties, golf outings, etc.) and all business meetings.

Do not sign letters or agreements containing "hold harmless" or "indemnification" clauses that require the Chapter to protect parties (such as hotels or golf clubs) from claims arising from the Chapter's use of such facilities. Such clauses may adversely affect the Chapter's insurance coverage.

Do not agree to insurance requirements that include the language "cross-liability endorsement", "separation of insureds" or "primary and non-contributory" because these phrases significantly increase your exposure. Also, do not agree to a "waiver of subrogation" unless it is mutual.

The general liability policies  include host liquor liability coverage for an open bar. General Liability would extend to all typical chapter events regardless of the number of events and covers holiday parties, and outings (even golf outings) as long as there are fewer than 144 participants. Extra coverage is necessary if there more than 144 participants at programs such as golf outings. GAS needs to review events by chapter and there may be additional premiums charged based participation numbers and event type. Certain designated activities such as fireworks, musical concerts, aircraft or amusement devices, animal related activities, boat rides, etc. always require an event questionnaire in advance of the event.

An  event questionnaire should always be filed for any program or event about which there is any question about adequate coverage. Always file a questionnaire for athletic events or other exceptional programs. The questionnaire puts GA on notice about an event, and will prompt a request by the carrier for a rider, if necessary. The GA Event Questionnaire Form follows this section. Many questions may be answered by “not applicable” responses.

When booking a social venue, be sure to ask if the establishment has a liquor license and proper insurance coverage. This is particularly important when booking smaller venues such as a local restaurant. It is also good practice to ask to have your Chapter added as an "additional insured" by the owner/ lessor of the event location on its policy. This would add another layer of insurance protection.

Never directly provide alcoholic drinks or hire your own servers.

Similarly, if your Chapter hires a bus with a driver from a bus company for an event, then prior to the event obtain a certificate of insurance from the bus company on a form known as Acord 25-S (7/97 Edition). The certificate must indicate the following: general liability insurance of at least $1 million, including "contractual liability" coverage; automobile liability insurance of at least $1 million; umbrella (excess) liability insurance; and worker's compensation insurance. The certificate must name the Chapter as "additional insureds".

Event Insurance Certificate

Occasionally a venue may require you to produce a certificate of insurance for the event.

We can provide these.  Please contact Jeff Walsh with the following information:

1. Name of Chapter

2. Event details:  Title, Dates, Times and Venue

3. Type of event: Networking, Golf etc;

4. Number of attendees expected and fees charged

5. Will alcohol be served?  If so - by you or by venue?  Free or cash bar?

6. What specific wording (if any) does the venue require on the certificate.