Voluntary & Community Sector Insurance Survey
Voluntary
and community sector organisations face insurance costs that have risen on
average by 30% to 100% over the last two years.
In some cases this has resulted in them being unable to secure insurance
cover at all. Unlike commercial
organisations, voluntary and community sector organisations are not in a
position to pass increased costs on and must absorb the increases into their
administration expenses. For small and medium-sized organisations in this sector, this
represents a cost that might force closure.
For large charities the additional expense will force a reduction in the
services they can provide.
Z/Yen
was commissioned by Charity
Logistics to explore the feasibility of establishing an insurance mutual
club within the charity sector. The
study was conducted in conjunction with the Active
Community Unit of the Home Office, was also supported by the Charity
Finance Directors Group (CFDG), the Association of Chief Executives of
Voluntary Organisations (ACEVO) and the Institute
of Fundraising. The Charity
Commission also welcomed the study.
If a mutual approach proves viable for this sector, this study may lead
to significant economies and efficiencies for many voluntary and community
sector organisations.
The
study received coverage in Third
Sector, VolResource,
Charity Times and UK
Fundraising.
For more information please contact Mary O'Callaghan on on
(020) 7562 9562 or mary_ocallaghan@zyen.com.
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