|
Business insurance
Charity Shield insurance
Community Shield insurance
Business insurance
Q What is the difference between buildings and contents?
A Buildings are the premises you own including your fixtures and fittings. They may also be premises that you occupy under a lease and may be made responsible for insuring under the terms of that lease.
The contents are those moveable items such as furniture, furnishings and equipment which you own. They can also include tenants improvements you make to leased premises.
Q What is the importance of adequate sums insured?
A Our policies for charity and business give cover on what is termed a reinstatement basis. This means that you should insure for the full cost of rebuilding or replacing. If you do not do this, then our policy may not be able to compensate you in full following a claim.
Q How are sums insured adjusted for inflation?
A Your sums insured with us would be automatically adjusted each year in line with the Building Cost Index or in the case of contents, the Retail Prices Index.
It does however remain your responsibility to keep the adequacy of your cover under review as circumstances change.
Q When is fixed glass covered?
A You will be covered for glass fitted in your premises if you own the building and insure this with us. You may be responsible for fixed glass as tenant under a lease and cover would also apply under our charity and business policies in those circumstances.
Q Must I meet minimum security requirements?
A You are expected to take reasonable care to prevent losses and this can include fitting adequate security measures. We may stipulate a minimum level of protection for doors and windows or less frequently a requirement for an alarm. However many of you already protect your property to the level you require
Q Will you insure me if I have made claims on previous insurance policies?
A A past claims history does not necessarily prevent us from quoting and we always consider cases on an individual basis. Where you could show you have taken steps to prevent future losses this would encourage us to give favourable consideration to your enquiry.
Q What does the phrase “Loss of Income” mean?
A This phrase describes insurance designed to guard against a loss of revenue or increased costs to continue operating when your activities are disrupted by a serious incident of damage which is insured by the policy.
Our policies for charity and business either give you cover automatically or this can be included at your request.
Q Is any insurance compulsory?
A Employers are required by law to arrange Employers’ Liability Insurance whenever they have employees.
Insurers issue a certificate each year showing that a valid policy is in force. The certificate should be displayed prominently at the place of employment and after use, retained for a period of 40 years.
Q Must I take out Public Liability Insurance?
A There is no legal requirement to hold this cover. However, whenever activities are undertaken by a charity, group, organisation and business there is a risk of loss, injury or damage being suffered by third parties. This is what you can arrange cover on and limits start at £1 million.
We strongly recommend Public Liability Insurance is in place as good practice.
Q What happens regarding hazardous activities?
A You will be asked when taking out a policy with us to tell us about your normal activities.
If you undertake unusual activities which have a greater hazard attached to them, then you must tell us. For instance, you may hire a bouncy castle, hold a bonfire or arrange a weekend at an activity centre. If in doubt about anything you plan to do, please inform us.
Q Will you always carry out a survey?
A We would normally only arrange to visit survey a risk if we insure the building or cover high risk equipment such as computers.
The survey would be used to help you ensure adequate cover was in place and to offer guidance to you on issues such as risk management. All surveys are free of charge and undertaken at our discretion.
Q What do I do about building works?
A If you enter into a formal contract there are often additional insurance requirements. Your appointed architect will guide you on these and encourage you to speak to your insurer. If we provide your insurance we are familiar with the action you need to take and can assist you by giving the extra cover.
Charity Shield insurance
Q How does the Charity Shield policy differ from an ordinary business insurance policy?
A Charity Shield has been designed to meet the insurance needs of charities operating in the UK. It offers a wide range of cover and incorporates a number of features not normally found in a standard business policy, e.g. charity trustee insurance, bequeathed property, death of a patron, authorised volunteers.
Q Do we have to take all of the cover offered by the policy?
A No, the policy is very flexible and allows you to tailor the cover provided to your particular needs.
Q How do we know that we are insuring our property for an adequate amount?
A To help you to ensure the adequacy of your buildings sum insured we can, in most instances and at no additional cost, provide advice regarding the sums to be insured for insurance purposes using our team of specially trained surveyors.
Q Having established adequate sums insured, how can we protect them against the effects of inflation?
A The policy offers a choice of inflation protection measures. Unless you choose otherwise, inflation protection is provided by linking sums insured to a relevant index..
Q Will we be protected if an authorised volunteer is injured whilst working for the charity?
A Under the Employers’ liability cover provided by the Charity Shield policy you will be indemnified against your legal liability to pay damages and legal costs arising out of bodily injury to an employed person, including authorised volunteers, caused during the period of insurance.
Q Is there any cover for loss of funds through fraud under the Charity Shield policy?
A Yes, subject to the existence of appropriate controls, cover can be provided for loss money or goods belonging to the charity caused by an act of fraud or dishonesty by any employee or authorised volunteer, including by employees or authorised volunteers acting in collusion.
Community Shield insurance
Q Why does a community group need insurance?
A The organiser or the organising committee or council may be responsible at law for any injury to persons or damage to property which is caused as a consequence of the group's activities. It is prudent to arrange insurance to cover these liabilities. In addition the group may have valuable equipment or other property which it may wish to insure against loss or damage or subscriptions and other money which it may wish to insure against loss. Community Shield is a policy designed to provide this cover
Q Do we have to arrange all of the insurance you have described?
A No. Basic cover is for public and product liability. Insurance for employer's liability, loss or damage to equipment or other property and loss of money are optional additions to the basic cover.
Q Does product liability include any food or beverages we may supply?
A Yes.
Q Our group meet on hired premises. Will the policy cover us for any loss or damage we may cause to those premises?
A Yes, the Community Shield policy will provide cover for your legal liability for accidental loss to damage to property hired by you at which you are carrying on your activities.
Q What if the group organises outings or activities away from the premises where we normally meet?
A The Community Shield policy can be extended, either temporarily or permanently, to cover activities away from your premises. You should tell us about these activities when arranging the policy or before the activities commence, if later, to ensure that cover is in force.
Q Will the policy apply if one member of the group causes injury to another member of the group in the course of our activities?
A The public liability section of the Community Shield policy can be extended to include 'member to member' cover, when required.
Q What cover does the policy provide for volunteers?
A The public and product liability sections of the policy will provide cover if authorised volunteers cause injury to members of the public or damage to their property whilst carrying out the activities of the group. The organiser/organising committee or council may be legally liable for injury to or illness of authorised volunteers which arises as a result of their participation in the groups activities, similar to the liability they would have for employees. If the group have any employees or authorised volunteers the Community Shield policy can be extended to provide employer's liability insurance. Employer's liability insurance, where it applies, is, of course, required by law.
|
