Whether you are working as a charity or a company that are looking to give back to the community, perhaps as a Community Interest Company (CIC), we work with insurers who can provide the cover you require.
As with all ‘not for profit’ organisations, the considerations for insurance can seem quite daunting, and possibly expensive when you are looking to keep costs down to a minimum.
There are certain insurance covers that you really should be looking to arrange and others that you may consider advisable, but possibly need to know where the risk lies and the costs involved in providing the insurance cover.
At IFM select we are always happy to discuss your insurance arrangements with you and can talk through the various cover you may need to consider, including;
- Liability insurance
- Property damage
- Business interruption
- Professional Indemnity
- Fidelity guarantee
- Cyber risks
In addition, you may need to consider the volunteers who may work with you, and whether other covers such as Trustee Indemnity and care and treatment risks would be appropriate.
Do you need risk management support, or just need to talk through with someone exactly what insurance cover you need?
A. Most policies deem volunteers, some contractors and even work experience as an employee therefore, if a volunteer who suffers injury and decides to pursue the charity (they have three years to do this), the court might reasonably decide volunteers working under the organisation’s direction are considered employees under the terms of the Employers Liability Act.
Not necessarily; it depends on how great the risk you want to insure is. Premiums can start from around £200 and we have a number of insurers that specialise in this area, so why not contact us and ask us for a price indication.