I am starting up a new charity, what sort of insurance will I need?
The insurance you will require will depend on the type of charity you are starting up. You will probably require cover for your premises and the charities’ assets, employer’s liability and possibly public liability. If you are offering any type of consultancy or advice, you may also require professional indemnity insurance, and if your charity will involve a lot of travelling, then group travel insurance would also be useful. You are also likely to need Trustees and/or Directors & Officers Insurance.
What is the difference between bona-fide sub-contractors and labour only sub-contractors?
A bona-fide sub-contractor, also known as a ‘Supply and Fit contractor’, has current insurance in place, whereas a labour only sub-contractor does not. Any Employers and Public Liability you take out would act as a contingency against the failure of the bona-fide sub-contractor’s policy as well as protecting the labour only sub-contractor under your auspices.
What level of public liability insurance do I need?
The likelyhood of injuring a third party or their property depends on the activities you are involved in on a day-to-day basis. The greater your turnover, the greater the likelihood of a claim occurring. Public liability insurance is usually sold for a limit of £1,000,000 or £2,000,000 any one occurrence. This is usually perfectly adequate to cover the liabilities charities are exposed to.
Do I need to take out Employers Liability insurance?
If any of your employees, including temporary employees and volunteers, are normally based in the United Kingdom (including offshore installations or associated structures), you must, by law, have employers’ liability insurance.
You are responsible for the health and safety of your employees while they are at work. Your employees may be injured at work, or they or your former employees may become ill as a result of their work whilst in your employ. They might try to claim compensation from you if they believe you or your company are responsible. The Employers’ Liability (Compulsory Insurance) Act 1969 stipulations that you must have at least a minimum level of insurance cover against any such claims. Employers’ liability insurance will enable you to meet the cost of compensation for your employees’ injuries or illness. You can find more information about this law on the HSE webpage under Employers’ Liability(Compulsory Insurance) Act 1969
Why do I need Professional Indemnity Insurance?
Any organisation that derives any of its income from consultancy advice given needs to consider the risks of such advice causing third parties’ injury, damage and/or distress, financially or physically. Advice can often be taken from publications, whether written or electronic. For some example of claim scenarios, please refer to Professional Indemnity Cover Claim Scenarios.
How can I pay for my Insurance?
We can accept payment by cheque, direct debit, credit or debit card or direct bank transfer (BACS).
Please note that payment by direct debit incurs an interest fee.
What is the role of a broker?
A broker is an intermediary whose primary function is to provide their clients with an insurance policy that meets their requirements and to provide constant after-sales service. The relationship between a broker and their client is an ongoing relationship of support and trust. For a more in-depth reply to this query, please follow this link – The Role of the Broker.
How do I make a claim?
If you think you need to make a claim on any of your insurance policies, please call Naturesave on 01803 864390 in the first instance.
If you are unsure about the level of cover required, or about types of charity insurance, please do not hesitate to call us directly on 01803 864390, or email us via our contact page for help and a quotation.