Charities & Care

Never has the obligation to demonstrate that you are following good practice been more vital to those responsible for Care organisations.

Trustee Indemnity (also known as “Directors and Officers”) insurance should be a number one management team priority.

Trustees and Managers can be personally liable for their actions in correctly governing the charity – which could result in a claim against you to the value of your personal assets. 

Differing requirements, such as OJEU, apply to different sectors of the Care and Charity world – most having a requirement to periodically review the options in a documented format.

Innovation Broking can support clients in formulating the correct combination of insurers to create the optimum cover/cost outcome.

In addition to any damages payable, serious reputational harm can be caused by abuse incidents. Ensuring the right cover to sympathetically defend claims is critical, both for the current year and in the future.

Insurers have different approaches and stances particularly about whether a claim is dealt with on the policy in force when the claim is brought (claims made) or when the abuse occurred (claims occurring).

Special Schools frequently sit in-between insurers’ appetites. They are not a typical charity nor a typical education risk. Broking to the few specialist insurers is a delicate art, requiring intelligent interpretation of regulators’ published reports.

Innovation Broking works extensively with, and is a member and conference attendee at, the National Association of Special Schools.

In addition to the ICO taking a specific interest in the Charity sector, some insurers have been reluctant to offer cover due to the perception that there is not enough resource within charities to support effective cybersecurity.

This can be mitigated with professional presentation of internal cyber governance.

Medical charities present a particular risk and require deep understanding and experience. Contracts with Pharma and Biotech can create expensive liabilities if not constructed correctly, and insurance for Clinical Trials and IP litigation both have potentially huge cost attachment points.

Innovation Broking is an active member of, and hosts relevant events for the Association of Medical Research Charities.

Larger charities require a broker who can work with their risk management team and other internal and external professionals, to deliver optimum risk advice. Innovation Broking is practised at being part of, or leading, multi-disciplinary teams to bring together the skills required.

To facilitate this capability, Innovation Broking has built a network of expertise in areas as diverse as Safeguarding, Contractual Risk Management, Health and safety, Fire Engineering and Cyber Risk.

UK charities who work outside the UK present a host of complex risks ranging from political and geographic to cultural.

Working with our international network of insurance brokers in WING, whom we meet personally twice a year, we are able to arrange local service and compliance with local legislation.