- Following a review of their current insurance risk register we identified that our client was incorrectly covered for the risks which could impact the organisation.
- We quickly identified that the scope of the charity’s work had widened in recent years, however their insurance protection had not kept pace with these changes. There were therefore a number of gaps in their cover which had been missed by their previous advisers, which may have left the charity vulnerable to legal costs and compensation claims.
- We undertook an assessment which highlighted a number of key areas where our client was lacking the level of insurance protection they needed. The level of Trustee Indemnity cover was increased, and Professional Indemnity cover was widened to include worldwide cover to reflect the international nature of some of their work.
What we did to help
- A visit in person to take the time to work with the client to help understand their organisation and to analyse the risks they faced.
- Provided personalised and strategic advice to improve the client’s insurance programme
- Undertook a full market review and premium adjustment, resulting in a 20% cost reduction
- Access to tailored and specific charity policy wording
- Provided the Trustee board with peace of mind and assurance that they had appropriate insurance cover in place