Helping charities to adapt
Changing times require changing strategies, so that charities can successfully meet the challenge of creating new opportunities within a tough economic environment, and effectively manage the risks that come with it.
Recent research commissioned by Ecclesiastical, in our capacity as a specialist charity insurer (in conjunction with independent research agency FWD), reveals that many charities are responding to the demands of this brave new world by planning to change the shape of their organisation.
New ways of working
Is your organisation currently embracing any of the following, or planning to in the future?
Collaborating with other charities or organisations?
Merging with another charity or organisation?
Setting up a social enterprise?
Bidding for or delivering public services?
In which case, you’ve probably taken legal advice, but it’s also important to make sure you have the right insurance cover and risk management practices in place to support you.
To help, we've produced a useful Changing Times Checklist summarising just some of the key things to think about.
Tick the ones you have covered, but it’s worth printing and saving a copy to discuss with your insurance broker and key internal personnel.
Changing Times, Changing risks report
We've also produced a practical report which looks at the changing shape of the charity business model.
This report examines the changing shape of the charity business model and highlights some of the practical ways that charities and not-for-profit organisations can successfully adapt and minimise their risks. Being owned by a charity ourselves, we’re committed to supporting the sector, especially in this brave new world.
* Of those who named an insurer in the survey, the majority named Ecclesiastical as the best insurer for care insurance. Research carried out by FWD, an independent market research company.