Club Insurance 101
Having trouble sleeping? Let me help. Read this! 😉
Seriously, Portland Bicycling Club carries insurance that is in place to benefit YOU, so you should have some knowledge of what it’s all about. You work hard (in years that there is work to be done!) to earn money for the club to pay for this perk. Meet-up groups, for example, don’t typically provide this umbrella of protection.
Recently, I was the lucky board member who got to attend a 90-minute insurance renewal conference when Doug unexpectedly had a “conflict” of schedule. Fortunately, I was well caffeinated and powered through.
We got a nice overview of the policy and how it is typically utilized by those insured. We were reminded that a waiver, such as our sign-in sheet, is not bulletproof but is an important tool against liability and the first thing the insurance carrier will ask for. We club members should sign an annual waiver as we join and renew our membership. Electronic waivers are generally acceptable, but they (and all forms of waivers for that matter) must be retrievable for a period of time to meet the state’s statute of limitations. ✎
If you are involved in an accident, you should start with your own insurance coverage such as health insurance (or car insurance if the accident involves a motor vehicle). This American Specialty Insurance through League of American Bicyclists coverage is to offset out-of-pocket expenses. If you have an accident on a club ride, you should fill out an accident report through the club and let the club and your ride leader know about it regardless of whether or not you will use this coverage.
We also have been purchasing coverage for directors and officers (the board). This type of coverage is usually accessed for wrongful acts such as discrimination, wrongful termination, negligence, and management of funds.
The maximum coverage for bicycles, for example if one were stolen from the club’s bike corral during a club meeting, is $5,000. Members should work with their home insurer if their bike is worth more.
Just another benefit of being a member of PBC!
Ann Morrow, Vice President