Insurance

However small or informal your organisation, insurance is a must. It is also a crucial way to minimise the risk to your organisation. You can insure yourself against almost anything, but at a cost. High insurance premiums over recent years have been a problematic issue for many organisations in the sector, and each organisation must decide for itself which types of insurance are most crucial for their operation.

The most common policies are:

  • Public liability
  • Employer’s liability
  • Directors and officers liability
  • Professional indemnity
  • Building and contents cover
  • Vehicles.

There are several group insurance schemes available to community and voluntary organisations.

Remember though that insurance will not cover you for circumstances like getting into debt, defamation or breach of contract. Think very carefully, therefore, before entering into any legal undertakings, such as renting premises, hiring staff, leasing a photocopier, and so on.

Remember though that insurance will not cover you for circumstances like getting into debt, defamation or breach of contract

See The Wheel's new comprehensive insurance offer with BHP Insurances exclusive to members.