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Useful guides for your customers

Many charities are opting to change their business models, both for financial reasons and in order to progress. When a charities business model changes, their exposure to risk does, too.

As one of our top charity brokers, we want to work with you to ensure you’re clients are protected. So we’ve created four practical guides looking at key issues facing charities in this economic climate.  Also to help you raise the topic with your clients we have produced a questionnaire, which you can send to your charities to help detect any possible gaps appearing in your insurance or risk management practices alongside our generic letter or email template.

The four ways charities are evolving are:

1. Collaborative working

Many charities are choosing to keep their individual identities but then collaborate with others to share their IT, payroll, properties or employees, for example. There are three main areas that pose a particular risk in a collaborative arrangement:

ticks A lack of clarity around who is insured 

ticks A lack of record-keeping 

ticks A lack of information on shared and individual liability

Download fact sheet

2. Merging with another charity

Mergers are now on the increase and whilst there are clear benefits, there are also some major points to consider when it comes to the associated risks. These include liabilities, property and reputation management.

Did you know that 55% of charity Chief Financial Officers anticipate redundancy procedures, yet only 10% of charities have legal expenses cover?

There are many shocking facts like these. Ensure your charity is still protected.

Download fact sheet

3. Changing to social enterprises

Many charities are becoming social enterprises or changing from social enterprises into Community Interest Companies (or CICs). Yet as well as bringing new opportunities, these changes also bring risks.

Did you know that there are an estimated 62,000 social enterprises in the UK and these are on the rise?

If you’re thinking about changing your charity business model, speak to your adviser today.

Download fact sheet

4. Adapting to public service tenders

Bidding for public service contracts is a key way for charities to create sustainable new revenue streams. Yet understanding all of the specific contractual obligations required and any associated insurance claims takes special expertise. Ask your broker about the specific risks involved.

And these are just some of the risks. If a charity sets up new shops or ventures, makes redundancies or hires new staff, it’s likely to change your risk and cover.

Download fact sheet

So what’s next?

Download the information provided and contact your clients. For any further information or support contact your Business Development Manager.

Proud supporters of CFG & HTF  
Ecclesiastical Insurance Group plc (EIG) Reg No 1718196. Ecclesiastical Insurance Office plc (EIO) Reg No 24869. Ecclesiastical Life Ltd (ELL) Reg No 243111. Ecclesiastical Financial Advisory Services Ltd (EFAS) Reg No 2046087. Ecclesiastical Underwriting Management Ltd (EUML) Reg No 2368571. E.I.O. Trustees Ltd Reg No 941199. EdenTree Investment Management Ltd (EIM) Reg No 2519319. All companies are registered in England at Beaufort House, Brunswick Road, Gloucester GL1 1JZ. EIO and ELL are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 113848 (EIO) and 110318 (ELL). EFAS and EIM are authorised and regulated by the Financial Conduct Authority. Firm Reference Number 126123 (EFAS) and 527473 (EIM). EUML is an appointed representative of EIO who is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 402228.