If you do a “lot of work for charity mate” then you might have interest in a new guide designed to help insurance brokers support their charity clients.
The sector is going through a period of “unprecedented change” according to
Ecclesiastical, which insures more than 45,000 charities across the UK. As such, the firm has put together a guide, with the support of partners including New Philanthropy Capital, meant to address issues such as new regulation and fundraising models, as well as digital innovation and cyber crime.
“Our work with key industry bodies, third sector groups, specialist brokers and our customers has given us invaluable insight into the challenges and opportunities the charity sector faces today and that are looming on the horizon,” said David Britton, charity director at Ecclesiastical.
“In 2017, we were delighted to support NPC’s State of the Sector programme, which showed how much more innovative charities are becoming in their fundraising. Many are also exploring new models and ways to engage in a challenging financial climate. This means that charities are facing and taking more risks than ever before; making specialist advice and support from their insurance partners even more essential.
“We’ve brought all of this insight together into this new guide, which will help brokers to support their charity clients with their changing insurance and risk management needs.”
The guide offers best practice advice on how to manage risks in the sector ranging from cyber to GDPR. The firm has also revealed the results of a survey highlighting the top 10 risks that charities are concerned with heading into 2018.
1. Funding 84%
2. Impact of Government changes 72%
3. Reputational risk 66%
4. GDPR/data protection 65%
5. Cyber/internet crime 63%
6. Grant providers 62%
7. Employer liability 53%
8. Exposure to social media 51%
9. Increased focus on governance 45%
10. Impact of Brexit 44%
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