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Chamber of Commerce & Board of Trade Insurance
Directors & Officers insurance covers your Chamber of Commerce’s board, whose members may be held personally liable for financial losses, employee discrimination, and other risks.
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We've partnered with Gallagher, one of Canada's leading insurance brokers, to provide insurance designed for businesses and business professionals. Get professional liability, general liability, and/or contents insurance designed specifically for your profession.
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Three Kinds of Insurance Your Board of Trades Need
General Liability Insurance
It protects an organization against liability claims that may arise from injuries or damage that could occur at the business itself, or caused by employees in the course of doing their job.
Directors & Officers Liability Insurance
It protects against losses caused by negligence or honest mistakes made by the directors and officers of your Chamber of Commerce. It can fund lawsuits in case of a payout, your legal fees, and court costs.
Contents Insurance
Nonprofits spend a lot of money on tangible assets like equipment and inventory. Without contents insurance, you would have to pay out of pocket to repair or replace any damaged equipment.
Why You Need Chamber of Commerce Insurance
Your directors and officers take on important responsibilities in guiding the organization.
With that leadership, however, comes risk — they can be held personally liable for financial decisions, employee matters, or even discrimination claims. D&O insurance helps safeguard them from these unexpected challenges.
Legal disputes can be costly and disruptive.
Directors & Officers insurance covers defense costs, settlements, and other expenses, so your Chamber can continue focusing on supporting members and strengthening the community — without the financial strain of unexpected lawsuits.
Why Do I Need Directors & Officers Insurance?
What types of risks do I face as a Chamber of Commerce or Board of Trade?
Like all nonprofits, Chambers of Commerce and Boards of Trade face a diverse set of risks at the board and operational level. There is the possibility of accusations that the directors aren’t fulfilling their duties, mismanaging the organization or funds, discriminating against a volunteer, or risks to do with managing and dismissing employees.
Directors and officers of nonprofit organizations can be held personally liable for their decisions on the board, even if the nonprofit is incorporated.
Bodily injury can occur at events hosted by the Chamber of Commerce, even a simple slip and fall can lead to a lawsuit. The physical assets of the organization have risks of loss such as fire, theft, flood, water damage and more.
How does a Directors & Officers policy respond?
Here are two scenarios of how a Directors & Officers insurance policy would respond to protect a Chamber of Commerce.
The disgruntled member
The Chamber of Commerce’s board of directors makes a decision to allocate funds to a charity, without realizing that the charity is not local. One of the chamber’s members hears about it, and sues the board for misuse of funds for operating outside of their charter. The Directors & Officers Liability insurance policy would respond to cover the legal expenses of the board, as well as any award or settlement.
The publishing problem
The Board of Trade decided to run a monthly newsletter that was distributed to the community. As part of the added value, the board sold adds in the publication at a discount to local merchants. A new clothing store opened and put in a last minute request for an ad in the publication. But when the next issue came out, the store’s ad was missing.
The board member who was supposed to process the request had forgotten, though the chamber kept the fee. The store responded by suing the Board of Trade for breach of fiduciary duty and breach of contract.
The Board of Trade’s D&O liability insurance policy responded to cover the legal expenses incurred in defending the case, and the resulting award or settlement.
What Does Chamber of Commerce & Board of Trade Insurance Cover?
Insurance for Chambers of Commerce and Boards of Trade protects both the organization and its leaders from the financial strain of lawsuits, settlements, and defense costs. Typical claims include:
Mismanagement of Funds
Chambers and Boards often handle membership fees, grants, and event revenue. If funds are mismanaged, misallocated, or perceived as being used improperly, board members can be held personally liable.
Employment Practices Claims
Claims of wrongful dismissal, workplace discrimination, or harassment can be brought forward by employees or volunteers. Without coverage, these disputes can result in high legal and settlement costs.
Breach of Duty
Board members are expected to act in the best interest of their members and community. Failure to do so — whether through conflict of interest, neglect, or poor governance — can result in lawsuits.
Event Liability
Chambers and Boards frequently host networking events, trade shows, and community gatherings. If a guest is injured or property is damaged at one of these events, the organization may be held responsible.
Regulatory Non-Compliance
Failing to comply with federal, provincial, or local regulations — such as tax filings, reporting obligations, or accessibility standards — can result in fines or legal action.
How Much Does Chamber of Commerce Insurance Cost in Canada?
The cost depends on the size of your Chamber or Board and the unique risks you face — but it’s almost always more affordable than handling a lawsuit or property loss on your own.
Whether you’re advocating for local businesses, hosting community events, or guiding economic growth, insurance for Chambers of Commerce and Boards of Trade is designed to protect both your organization and its leadership from financial risk. It’s typically less costly than you’d think, especially when you compare it to the potential expenses of legal disputes, injuries, or damaged property.
With APOLLO, you can get a customized quote in just minutes, with coverage options tailored to your Chamber’s needs.
Here's what impacts the cost of your policy:
Organization Size and Structure
A local Chamber with a small board may pay less than a large regional Board of Trade with multiple committees and programs — but both carry unique risks that require protection.
Activities and Risk Profile
The type of work your Chamber or Board does can influence pricing. Groups that organize frequent public events or advocacy initiatives may face more exposure than smaller organizations with limited programming.
Membership and Funding
Your financial footprint matters. Whether your organization relies on membership dues, sponsorships, or government funding, higher revenues often mean higher stakes — and higher expectations from stakeholders.
Claims History (or Lack Thereof)
If your Chamber has no history of claims, that can help keep premiums lower. A track record of previous claims doesn’t disqualify you, but it can impact your rate.
Community Profile
Well-known organizations with strong public visibility may attract more scrutiny. The more influence your Chamber or Board has in the community, the more important it is to have the right coverage in place.
Real Data. Real Pricing.
At APOLLO, we don’t believe in cookie-cutter policies. You’ll get a personalized quote tailored to your Chamber’s needs — so you can protect your board, your members, and your mission with confidence.
Three Misconceptions About Board of Trades Insurance
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“Our board members aren’t at risk personally.”
Many assume liability stops with the organization, but board members can be held personally responsible for decisions related to finances, governance, or employment disputes.
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“We’re a nonprofit, so we don’t need coverage.”
Nonprofit status doesn’t prevent lawsuits. Chambers and Boards of Trade still face risks from employees, volunteers, members, and the public — from discrimination claims to event-related accidents.
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“It’s too expensive for a small Chamber.”
Coverage is often more affordable than expected — and always cheaper than facing a legal battle without protection. Policies can be scaled to fit organizations of all sizes, from local Chambers to national Boards.
Three Ways Board of Trades Insurance Strengthens Your Business
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Protects Your Leadership
Insurance safeguards board members from personal financial risk if they’re named in a lawsuit, giving them the confidence to make decisions that move your organization forward.
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Builds Member and Community Trust
When your Chamber or Board is properly insured, members and partners know you’re serious about governance, accountability, and long-term stability — which strengthens your reputation.
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Keeps Operations Running Smoothly
Coverage for legal costs, event liability, or property damage means unexpected challenges won’t derail your programs or services. You can stay focused on supporting local businesses and driving growth.
Liability Quiz
If our Chamber is a nonprofit, are we protected from lawsuits?
No. Nonprofit status does not prevent lawsuits. Chambers and Boards of Trade can still face claims from employees, volunteers, members, or the public. Liability insurance helps cover legal defence costs, settlements, and damages so your organization doesn’t have to pay out-of-pocket.
Can board members be held personally responsible for decisions made on behalf of the Chamber?
Yes. Directors and officers can be held personally liable for governance issues, financial mismanagement, or employment-related disputes. Without coverage, their personal assets may be at risk. Directors & Officers (D&O) insurance helps protect them and gives peace of mind to those serving on your board.
Do small Chambers and Boards of Trade really need liability insurance?
Yes. Even small organizations face risks — and a single claim could cost more than years of insurance premiums. The right coverage can be tailored to your Chamber’s size and activities, ensuring protection that fits your budget and keeps your mission on track.
If someone gets injured at a Chamber-hosted event, are we automatically protected by waivers?
Not entirely. While waivers can reduce some risk, they don’t eliminate your legal responsibility. If a guest is injured at a Chamber mixer, trade show, or networking event, your organization could still be held liable. Commercial General Liability insurance ensures those medical bills, legal fees, and potential settlements are covered.
The Cost of Not Having Chamber of Commerce Insurance
Scenario | Out-of-Pocket Cost (Without Insurance) | Covered by Insurance? |
A member claims the Chamber mishandled membership dues or funds. | $20,000 – $200,000+ (legal defence, settlements, reputational damage) | ✔ Directors & Officers Liability |
An employee files a wrongful dismissal or discrimination claim. | $10,000 – $150,000+ (legal fees, HR investigations, settlements) | ✔ Employment Practices Liability |
A guest slips and falls at a Chamber-hosted networking event. | $5,000 – $100,000+ (medical bills, legal defence, settlement) | ✔ Commercial General Liability |
A fire or flood damages the Chamber’s office and equipment. | $15,000 – $75,000+ (repairs, furniture, tech replacement, downtime) | ✔ Contents & Property Coverage |
A volunteer accidentally damages a rented event venue during a trade show. | $5,000 – $50,000+ (repairs, liability claims, lost deposits) | ✔ Tenant’s Legal Liability |
Insurance Is a Business Essential, Not Just a Backup Plan
Chamber of Commerce & Board of Trade Insurance does more than cover your organization when things go wrong. It strengthens your governance, builds credibility, and ensures you can keep serving your members without disruption. Here’s how the right coverage supports your success:
Build member and partner trust – Local businesses, sponsors, and community partners want to know their Chamber is stable and accountable. Insurance reinforces your credibility and shows you’re serious about protecting your stakeholders.
Protect your leadership – Board members and officers take on real risks when guiding the organization. Insurance shields them from personal liability, helping you recruit and retain strong, capable leaders.
Keep events running smoothly – From networking mixers to large trade shows, events come with liability risks. Insurance ensures that a slip, accident, or property damage won’t derail your programs or drain resources.
Safeguard your mission – Chambers and Boards are built to strengthen local business. A single lawsuit or unexpected claim could disrupt years of progress. Coverage helps keep your focus where it belongs: supporting members and driving growth.
Be ready when the unexpected happens – Even with the best planning, accidents and disputes occur. Insurance helps cover legal defense, settlements, property damage, and liability claims so your organization can keep moving forward.
PRO TIP: Involve your board in reviewing insurance coverage.
Your directors and officers are the ones most exposed to personal liability — keeping them informed builds confidence, transparency, and ensures your Chamber or Board has the right protection in place.
Top 5 Mistakes Leadership Teams Make (And How to Avoid Them)
Do board members really need personal protection?
Absolutely. One of the biggest misconceptions is that liability stops at the organization. The truth? Board members can be personally sued over financial decisions, governance issues, or even HR disputes. That’s why D&O insurance is so important — it keeps their personal assets safe.
We’re a nonprofit — doesn’t that protect us?
Not quite. Nonprofit status doesn’t mean you’re lawsuit-proof. Claims from employees, volunteers, or even members can still happen. That’s where coverage like Employment Practices Liability and General Liability come in to keep your Chamber protected.
If we use waivers at events, aren’t we covered?
Waivers help, but they’re not a silver bullet. If someone gets hurt at a networking event or trade show, your Chamber could still be held responsible. Commercial General Liability coverage makes sure legal bills and medical costs don’t come out of your pocket.
Isn’t insurance too expensive for a small Chamber?
Surprisingly, no! Coverage can be scaled to fit Chambers and Boards of all sizes, and it’s usually more affordable than most expect. Plus, compare the cost of insurance to the cost of one lawsuit — it’s a no-brainer.