You arrange insurance to protect the important mission your charity has and to fulfil your duty in managing risk effectively. However insurance can be complex – without the help of a professional adviser it can be easy to overlook an area of cover, miss a policy exclusion, or misunderstand the cover you’ve been sold. It can also be easy for an insurer to misunderstand your organisation’s needs. Tim Larden, a Director at charity-specialist insurance broker, Access Insurance, takes us through 10 common and costly mistakes that would lead to a situation where your claim is not paid out.
Amongst these, we’ll cover:
- What the Insurance Act and what it means for you
- Getting the right cover that meets the needs of your organisation
- Understanding the documents: Exclusions, endorsements and insurance schedules
- Getting the claims process right
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