Council must also create a policy to make sure that the First Nation has the insurance coverage that is needed.
This policy includes the steps for:
- identifying the risks of the First Nation and what insurance coverage would be best. This includes risks of Councillors, officers, or employees of the First Nation
- finding and getting the best insurance coverage for the situation
- the approvals needed for insurance coverage
- the actions that need to be taken to make sure that the First Nation always has appropriate insurance coverage
- taking sure that if any insurance coverage is needed by the FAL, the First Nation has this coverage