Charity & Charity Trustees Indemnity Insurance
Ladbrook was responsible for launching a new Charity & Charity Trustees Indemnity Insurance in 1998. A special discount was negotiated on the premium from Directors & Officers Ltd (who are wholly owned by Royal & Sun Alliance). The special scheme discount, which amounts to 15% off the normal premium, is available to NACVS, Councils for Voluntary Service, Voluntary Action Groups and any other Voluntary Organisation that is either a member of, or affiliated to, a Council for Voluntary Service or Voluntary Action Group.
Apart from providing an indemnity to Charities and Trustees of Charities, cover is extended to include Professional Services offered. It is the extent and scope of professional services that decides the final premium to be charged.
Whilst approaches have been made (and will continue to be made) to the Charity Commissioners for England and Wales to accept that Charities can effect and pay for the insurance cover, nevertheless, at the present time, it is still recommended that each organisation considering taking out this cover does obtain confirmation from the Commissioners that it is in order for them to do so. It is also important to note that each Charity's constitution should include the appropriate power to take out the insurance cover.
he course of action that we recommend is that the proposal (PDF format, 49k) be completed and submitted to us (via post) for confirmation of premium but at the same time a copy of the application be forwarded to the Charity Commissioners for their confirmation that the cover can be taken out.
If you wish to find out more and to see whether LADBROOK can assist your particular organisation, please contact us. Feel free to put to us any questions that you might have. We look forward to hearing from you!