Trustees Indemnity – For charities looking to protect their Trustees and the charity itself
“94% of Trustees say that they do not have the skills they need to carry out their job”.
(Government Hub survey)
The Trustees of a charity take unlimited personal liability for their actions in managing the charity’s affairs. Furthermore the directors and officers of the charity, or even employees who have managerial responsibility can be held personally accountable for their actions. Many trustees do not appreciate the personal risk they take as a result and without proper protection in place could be open to having to fund the cost of defending an allegation from their own means.
Matters such as employment regulation, tax disputes and breach of professional duty can have a huge financial impact on the charity and its executives. Only recently the press has featured cases of discrimination that have cost charities thousands to defend. Whilst our employment and health & safety offering can help to address some of these regulation matters Trustees need to seriously consider Trustees Indemnity cover.
Even charities are vulnerable to fraudsters theses days, who often consider them as easy targets. Sometimes employees may be tempted to steal from the charity:
Benefits of Trustees Indemnity from 1 Stop Insurance
- High cover level at up to £1,000,000
- Wide Charity definition
- Legal expenses cover at up to £100,000 covering
- Loss of reputation cover for public relation expenses
- Very low cost
A charity’s reputation is paramount and, where that reputation is damaged through adverse publicity, funding may cease or volunteers reduce. Without being able to provide a response to allegations the charity may potentially be disadvantaged.
Our simple, specially designed package not only covers Trustees Indemnity but also Legal Expenses and Loss of Reputation as standard with options to include Professional Indemnity and Fidelity guarantee.
But what next?
Contact us to discuss your requirements and we can research the best covers possible.