Charities
All charities and voluntary organisations are under constant pressure to reduce costs, minimise administration and become more efficient. The obligations placed on charities by the Charities Commission further increase the need to spend wisely. Charities also need to consider their duties to employees, volunteers and the public under health and safety legislation. The trustees of a charity have a duty to safeguard the property of the charity not only from direct loss or damage but also from third party liabilities which would otherwise have to be satisfied out of the property of the charity. If trustees unreasonably fail to discharge this duty they may be personally liable to make good the charity's losses. Because of this, it may be appropriate to take out insurance as a means of discharging this duty. Insurance cover should only be taken out if the level of risk which is to be passed to the insurer is such as to make the insurance premium worth spending. This decision is a matter of judgment and one which the trustees of a charity must make. Foster Leighton has long experience in arranging specialist insurance for charitable and voluntary organisations, and can bring our expertise to the decision process on behalf of Trustees. Our approach aims to ensure that you get a policy that protects only the assets and liabilities that matter."Insure only what you need and keep the savings for a better cause"
Services
Cover Risk Management, Insurance and Investment Advice.