Withdrawal of funding is greater threat than claims against charities, report finds
New research has revealed that only 5% of charities think that insurance claims against them will be a serious threat facing them in the future.
The risk of withdrawn funding is by far their greatest concern (64%) followed by protecting their image and reputation (17%) and changes in social policy (9%), according to the research from Ecclesiastical.
The study also found that, despite the perception that insurance worries are the reason for cancelled events only 3% of charities have actually done so.
One in five charities is worried about rising insurance premiums, and one in ten is worried about claims made against its charity by the public, according to the report.
Ecclesiastical chief underwriting manager Chris Lees said: “Despite what people might think, insurance isn’t a major stumbling block for charities. They can get the cover they need at a reasonable price and insurance concerns don’t get in the way of organised events.
"If charities use proper risk management techniques, keep in touch with their brokers and use a specialist insurer they can be confident they’re properly protected.
"We’re also anticipating what covers charities will need in the future by introducing new policy features.”
