Charity and social enterprises face increasing challenges and uncertainties. Many continue to balance
increased demand for services with reduced income, calling for ever-increasing resilience and
creativity.
Jessica Savory, at Charity Insurance specialist One Broker, explains why insurance remains a critical
safety net from unexpected events that could otherwise jeopardise your survival.
Insurance and the “unplanned event”
Unplanned events happen when you least expect them. Examples of unplanned events could be
Fines, Tax or Payroll disruptions, Legal Fees, Injury, Medical Expenses, Reputational Damage,
Cybercrime and Property Damage.
We’ve planned for unforeseen costs
One event could wipe out your self-insured fund, leaving your organisation stuck between deciding
upon the ‘risk of something happening’ and the ‘cost of legal and medical fees, reinstatement of
property, or reputational damage (abuse)’ if it does.
Examples of where insurance has provided the safety net for an organisation:
During an event, a volunteer was involved in a fatal accident; the Health and Safety Executive
and family members brought legal actions against the Organisation and Trustees for breach
of their duty in failing to provide adequate training and supervision.
An Organisation faced a claim for discrimination after it was alleged that it had breached its
statutory duty by not making its website accessible for blind people.
The offices were damaged following a leak. The Trustee responsible for maintaining the
insurance didn’t update their broker with the insured values. This resulted in ‘underinsurance,’
where the insurer did not pay for the full remedial works, and the charity could not afford the
shortfall. The Trustees took legal action against the Trustee responsible for the error.
In these examples, having the right insurance broker is key and has proven vital to the survival of
organisations. Without the right insurance programme, unplanned events could significantly impact an
organisation’s ability to operate.
Contact Jessica for your free insurance quotation: Jessica.Savory@onebroker.co.uk
