Charity funding crisis: one in three fear they are over-reliant on a single source of funding
One in three charities fear they are over-reliant on a single source of funding, according to research by specialist insurer Ecclesiastical.
Brokers can now have more informed risk discussions with their education clients with the launch of a new risk-profiling report from Ecclesiastical Insurance.
Developed in collaboration with the education sector, the Risk Tracker Report draws on Ecclesiastical’s over 55 years of experience insuring education establishments and the expertise of its in-house risk management team.
Following an onsite assessment with one of Ecclesiastical’s specialist risk surveyors, clients will receive the new risk tracker report. The report will provide clients with a grading for both property and liability risks such as fire prevention, building works, business interruption and safeguarding.
It will also provide clients with a clear list of actions, helping clients prioritise any improvements needed.
Commenting on the launch of the Risk Tracker Report, Faith Kitchen, education director for Ecclesiastical, said: “It is in everyone’s interests to help clients minimise their risks. This is particularly important in the education sector, where children may be at risk if something goes wrong.
The new report makes the survey process more transparent to brokers and their clients. Alongside their current rating, clients will be given an indication of the grade they can achieve if they make the suggested improvements. It will also provide a benchmark grade for similar schools so the school can understand where they are in comparison to its peer group.
“One key feature of the new report is its ability to demonstrate the impact that the improvements will have on the clients grading,” Faith added. “This allows clients to see how their actions, some of which may be very simple, can help to reduce the risk of a significant future loss.”
“The Risk Tracker will facilitate conversations between brokers and their clients. Ultimately, we hope that providing this information will help brokers demonstrate the impact of making risk improvements to their clients and help clients understand their overall risk exposure to help gain support for risk improvement actions.”