Youth Centre and Community Group Insurance
I really enjoy working with not-for-profit and charitable organisations as they place value in good advice and the benefits of having the right cover. So, when I was asked to provide a quote for a local youth centre, I leapt at the chance.
Their insurance had been arranged by the local office of a large national broker and was with a well-known insurer. I have often used the same insurer myself and, at one time, they would have been the default choice for this organisation.
But, times move on and a good insurance broker will keep abreast of the market and will know of any new products available. I knew that another insurer had recently launched a new product that was available to me online and, having used them in the past to cover much larger organisations, I knew that they would be a good fit.
I also knew that their premium had been the most competitive when I’d recently quoted a newly-created community group and had tried both insurers.
What I was most taken by though was the enhanced cover I would be able to provide. Not many youth centres consider Professional Indemnity cover worthwhile but this insurer, knowing the sector as it does, considers it so invaluable that all of its quotes include it alongside the usual Public Liability cover.
So, why is Professional Indemnity cover so invaluable to a youth centre? Well, this particular insurer extends its cover to include Abuse. Clearly, the majority of these types of organisations are well-run but there’s no denying that scandals have come to light in recent years involving organisations with children and vulnerable adults in their care.
There is also another side to consider. It’s a sad thought, but it’s not unknown in this day and age for a false allegation to be made. If the organisation has no Abuse cover in place, who will pick up the legal costs of defending the organisation against such allegations?
Finally, I was also able to incorporate the youth centre’s contents – a figure they chose to increase when we discussed it further – and Loss of Rent cover in the event of a business interruption. Employers Liability too – the organisation is run by a band of volunteers but, were they to be injured whilst doing so, it is Employers’ Liability that would cover them.
Guess what, in spite of all that extra cover, the result was as I suspected – a substantial saving on their renewal terms. Oh, and no ‘administration’ fee unlike the national broker. But then, that’s a whole other blog post!