Charity Insurance is essential for any charity operating in the UK and is compulsory if they employ staff or volunteers.
In fact charities are subject to the same conditions as any other company/retailer/wholesaler when it comes to legal requirements. However, it is not just legal requirements such as liability insurance that is needed, you also need good common sense to make sure that your computer equipment is covered along with your office contents.
Imagine the upheaval and financial set back a fire or theft would cause your organization if you did not have charity insurance? And what if an employee or volunteer decides they want to claim compensation for an injury sustained at work? Our comprehensive insurance for charities not only covers you/the company against these potential losses but also covers the business interruption your company suffers getting back on its feet.
At SIS we perform risk assessment or give you, the individual or company, the tools to perform your own risk assessment. By performing these tasks, you will be able to identify and therefore avoid potential future claims by taking action now before any incident could occur. It also helps us provide you the policyholder with the best terms and lowest premiums possible for the nature of your risks.
A charity’s main concern, you would imagine, would be securing the funding required to enable them to achieve their goals. Wrong.
Charities here in the UK are mostly concerned with Public Liability insurance – the legal liability for injury caused to members of the public or damage to their property. The increasing frequency of liability insurance claims arising from accidents involving the public make insurance for charities an absolute must. This increase in frequency of claims is also driving premiums up and up. Here at SIS we’re helping to off-set increased charity insurance premiums by offering full risk assessment and practical guides to risk management.
Most Social Enterprise and Community Interest Companies (CICs) understand they’ve a moral & legal duty to deal with claims arising from injury caused by themselves, but there is a claims culture embellishing claims, sometimes fraudulently. The only winners are lawyers when you consider that 0.88p of every £1.00 of compensation paid goes on legal costs.
We are flexible. We are professional and we understand our client’s needs and we understand that by identifying potential hazards we can remove the likelihood of harm. Risk assessments are not complicated but they can be time consuming.
Call us now on 0161 969 6040 and let us provide you with the tools to carry out your own risk assessment.
Since the introduction of the Localism Act 2011 we have seen many Community Interest Companies (CIC) and Social Enterprises (S/E) seeking expert advice on all charity insurance matters particularly Professional Indemnity Insurance (PI) and Public & Employers Liability Insurance (PL & EL). A third of all business startups in the UK are Social Enterprises and Community type groups.
In 2011 SIS were finalists in Deloitte’s search for social pioneers. We were able to demonstrate that through thorough risk assessment and understanding of our clients’ needs we were able to provide the right charity insurance solution – premium, terms & conditions for charities and individuals alike.
Our expert advice and support is essential to charities and organisations, enabling them to understand what risks are being entered into when bidding for contracts that may have unpredictable outcomes. There may also be a potential risk of “mission drift” where bidding involves work outside their original aims.
We hold direct facilities with the UK’s most prominent charity insurance companies – namely the Ecclesiastical and Zurich as well as access into the Lloyds market.
SIS are also members of the EFFRR (The Employers' Forum for Reducing Re-offending).
For more information on public and employers liability insurance, please visit our Liability Insurance FAQ Section or read our Definition of Sub Contractors.
If you are interested in charity insurance or public liability insurance or just need some expert guidance, contact SIS today using our online form, or call 0161 969 6040. We can help.