Risk Management

Document Sample
Risk Management Powered By Docstoc
					Risk Management
    Spring 2010




       Kin Canada 2010
    What is Risk Management?
   A discipline for dealing with uncertainty
   A system for making choices
   A way for better understanding potential
    liability
   A guide for responding to undesirable
    events




                     Kin Canada 2010
    The Importance of RM to KIN
   Helps practice good business management
   By doing Risk Management, your club can
    improve, or keep, its positive public
    image.
   Helps Kin to make insurance available and
    affordable
   Helps Kin to protect itself in potential
    lawsuits
   Reduces the chance of injury to
    participants


                    Kin Canada 2010
    Risk Management Resources
   Website at www.kincanada.ca
   Includes:
         Step-by-Step Guide to Risk Management
         Presentations and Training Modules
         Project Checklists
         Insurance Information
         Corporate Status Information


                       Kin Canada 2010
         Insurance and Risk
        Management Contacts
   Risk Management Coordinator – HQ
    • Mélanie Nieson
   National Risk Management
    Committee (NRMC)
    • Gail Brittain, D7
    • Terri Iredale, D1
    • Tony Conway, D7
   Insurance Brokers
    • HKMB Hub , contact Amanda Shyhinskyi
                       Kin Canada 2010
    Some Insurance related items

   Certificates of Insurance
    • Request by third parties
    • Requests by Clubs to third parties
   Asset Transfer Waivers
   Incident Report Forms




                     Kin Canada 2010
          Insurance Reporting
   Why Insurance Reporting is
    important
    • It is essential so the Association can
      maintain national insurance coverage for
      clubs
    • Essential for clubs to protect themselves
      from a potential third party liability claim
    • Displays to the Association’s insurer that
      we have good risk management planning
      in place
                      Kin Canada 2010
           Corporate Status
   Why do clubs need to establish
    and maintain corporate status?
    • Required to under Kin Canada By-Laws
    • Protects the individual members of the
      club by making it a legal entity
    • Clubs are legally obligated to stay
      current with filing to the province
    • Keeps them active in their provincial
      registry
                    Kin Canada 2010
    What Happens if you are not
          Incorporated?
   What happens if you do not
    maintain your corporate status?
    • The province can place the corporation
      in “default”, and eventually revoke
      status
    • Individual members could be personally
      at risk financially if the club ever has
      any actions or claims brought against it

                     Kin Canada 2010
 What happens if you do not
maintain your corporate status?
            Cont…
• The Club Executive may be liable for
  any resulting penalties, fines or other
  action taken by the province for failure
  to file
• It is a violation of Kin Canada’s By-
  Laws, which could result in putting the
  club’s insurance at risk
• The club could be put “Not in Good
  Standing” or in “Suspension” with
  National and possibly have their charter
  revoked.
                Kin Canada 2010
        T2 (Income Tax Filing)
   All non-profit club’s must file a T2
   Some club’s will also required to file
    an NPO form.
   Some clubs will also be required to
    file income tax with their province
   A deadline is given by Revenue
    Canada for each filing.

                    Kin Canada 2010
               Questions????
   If you have any questions regarding
    these matters please feel free to
    contact your
    • District Risk Manager
    • Risk Management Coordinator at
      National
         Melanie Nieson 1-800-742-5546 ext. 208




                       Kin Canada 2010

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:23
posted:8/29/2012
language:English
pages:12