CHARITY & NOT-FOR-PROFIT ORGANISATIONS
At Simcox Brokers, we can arrange Professional Indemnity insurance for charities and not-for-profit organisations.
HOW WE CAN HELP YOU
As an independent broker we have built strong working relationships with a wide panel of specialist insurers in the charity and not-for-profit sector and can assist you throughout the application process, helping best present your organisation to the insurers and fully supporting you in the event of a claim.
Alongside professional indemnity insurance we can arrange other policies to provide a full and comprehensive insurance portfolio to protect your organisation and people. These include:
-
Trustee Indemnity Insurance
-
Entity Defence
A PERSONAL SERVICE
Independent & Specialist Insurance Broker
Transparent & Simple Communication
Friendly & Personable Approach
HIGHLY EXPERIENCED
Valuable insight and industry knowledge
Understands your industry specific risks
Impartial & objective
A TAILORED SOLUTION
Consultative approach
Access to a wide panel of Insurers
Comprehensive selection of products & services
WHAT CAN PROFESSIONAL INDEMNITY INSURANCE FOR CHARITIES AND NOT-FOR-PROFITS COVER?
Like businesses, charities and not-for-profits also face various risks in their daily operations, such as financial misconduct, regulatory challenges, reputational threats, and claims of negligence.
A professional indemnity insurance policy can financially protect your charity or not-for-profit organisation by covering the expenses associated with defending against accusations of professional negligence. These allegations may arise from incidents where a claim of incorrect advice is provided to users of your services.
FREQUENTLY ASKED QUESTIONS
Do I need separate policies for each area of cover for my charity?
There are policies that can provide comprehensive cover across numerous areas, these are commonly known as a charity combined policy. It will depend on a number of factors within your organisation and with the insurer as to whether one of these policies can provide the level of cover you require.
What determines the cost of a Professional Indemnity policy?
When assessing the premium, insurers will look at a number of different factors. This could include the area your charity or not-for-profit works in i.e. low or high risk, claims history, experience/qualifications, income and the types of contracts you are involved in. Insurers may also want to find out what risk management procedures your organisation has in place as well, before determining the cost of your Professional Indemnity insurance policy.
To get the best premiums from insurers, it is important to complete a full proposal as accurately and as easy to read as possible. Additional information with full details of your experience, the services you offer your clients and the procedures you have in place to mitigate your risk will also help your broker negotiate the most competitive premium on your behalf.
Do charities need Cyber Insurance?
Data breaches, ransomware, phishing, social engineering and fund transfer fraud, amongst other potential cyber risks, are where many businesses remain unprotected!
Regardless of your industry or level of computer-based work, we believe it is unlikely that your business is not at risk from cybercrime.
We encourage ALL businesses review their risk and need for Cyber Insurance, Simcox Brokers can support you through this process. Please take a moment to watch our short cyber explainer video to help you understand some of the risks your organisation might face and what a good policy can cover.
FINANCIAL ADVISORS, BRISTOL
After drowning in complicated forms, confusing small print and expensive quotes, Simcox Brokers were like a breath of fresh air – clear, informative and approachable. They managed to negotiate a very competitive quote, saving me over 25% from the previous year. Excellent service, thanks
CHARTERED ACCOUNTANT, SHROPSHIRE
Simcox Brokers have provided me with an excellent service this year, not just in providing quality insurance cover and advice but also in support too. I had a claim during the year which (not through our or Simcox’s fault) lasted for around five months and their support throughout has been fantastic in terms of guiding me, keeping me regularly updated without me having to prompt and reassuring me. They made the whole process much simpler and so much less stressful than it could have been. Thank you to the Simcox team!
RENEWABLE ENEGRY COMPANY, BRISTOL
Simcox Brokers was able to navigate the complexities of our market and offer us a solution that perfectly met our needs. This was undoubtedly derived from taking the time to understand our business thoroughly