Charity Insurance

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Liability insurance for charities

There are many thousands of charities in the UK that rely on volunteer fundraising for much of their income.

Even though these people offer their services free of charge, your insurance should cover the health and well being of all the people working for, and supporting your cause. In the eyes of the law, volunteers are classified as employees, and if you employ one or more members of staff your business is legally required to have employers’ liability insurance. 

In addition, many people take part in, or attend, charity fundraising events and it’s important that your charity is protected by a public liability policy should anything happen to one of them – for example, suffering an injury on a sponsored run.

 

Business interruption cover

Times are tough for many in the charity sector. The Charities Aid Foundation has revealed that in 2017 almost 1 in 5 charities were struggling to survive. Figures showed that:

61% had restructured their organisations

33% were downsizing

76% would be partnering with another charity

Recent industry research revealed almost 33% of charities had no crisis management plan in place, even though in 2016 over 80% had experienced a fundraising crisis. 

It’s essential that your charity has a robust and comprehensive crisis management plan which establishes a crisis policy, identifies potential risks and devises solutions for them. This can then be supported by extensive business interruption cover.

 

Trustee indemnity insurance

One way people can support a charity is by agreeing to serve as a trustee. But this brings with it certain responsibilities, plus personal liability for any errors or omissions made in performing the role. As a result, trustees can face claims that could lead to financial loss or even imprisonment.

Trustee indemnity insurance will ensure that trustees are protected against the costs of defending or settling claims. This cover can also be extended to directors, governors, committee members, employees and officers of the charity. 

 

Fraud protection  

As well as protecting officers, too often charities also have to be protected from them. Recent research indicates that 32% experienced a crisis involving fraud by either an employee, manager or trustee. Fraud is the most reported crime in the UK and, according to the Office for National Statistics, the charity sector loses at least £150 million because of it each year.

As a result, the Charity Commission recommends charities:

establish strong financial management

institute and enforce financial controls

report attempted or actual fraud

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