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Entries close 31 March 2021.
As a charity, your aim is to provide and help others. But what about protecting the charity or non-profit organisation in the event that something happens?
Like all businesses, insurance to protect against claims from injured staff or volunteers, fundraising events as well as cover for your premises and equipment is vital for charities and similar organisations.
Charities and not for profit organisations need insurance in the same way that any other business does. If your organisation employs staff or has volunteers and/or operates vehicles on public roads, then insurance is a legal requirement.
It is highly likely that employers’ liability insurance will be necessary along with public liability. There are other risks to consider too. For example, cover to protect your office or other premises in the event of a flood, fire or theft, cyber risk and cover for fundraising events.
As a not-for-profit organisation, you should also consider trustee indemnity insurance (also known as trustee liability insurance). The individuals that are responsible for the running of the charity or organisation can face compensation claims in the event that something goes wrong. Trustee liability cover can provide the financial security to protect the organisation if something happens.
Every charity and not-for-profit organisation is unique. The activities carried out can vary enormously from a small office to a regional or national organisation with shops, warehouses and large-scale events.
Insurance to provide protection for volunteers as well as employees will be required by law for most organisations – including charities.
Most charity insurance policies will include cover such as product and product liability insurance which will be sufficient for many fundraising events. However, depending on the nature of the event and the activities involved, you might need additional cover.
Trustee indemnity insurance – also known as trustee liability cover – provides protection for the board of trustees, directors, committee members and individuals holding similar positions. If something goes wrong, they could be held responsible – and therefore financially liable for any resulting compensation claims.
Charity insurance solutions can include a combination of the following:
Our friendly team of experts will take the time to understand your organisation’s specific needs and put together a charity insurance package that’s right for you. We’re here to provide you with the peace of mind you need to focus on your organisation’s cause and mission.