Social Enterprise Insurance

Social Enterprises can exist in nearly every sector from consumer goods to healthcare, community energy to creative agencies, restaurants to facilities management. Dependant on the type of enterprise that you operate, this can present a variety of risks that will be unique to what organisations may face.

Our team have many years' experience of working with social enterprises, working with them to understand their specific risk exposures and then advising them the most suited solution. You may be working in health and social care, in retail or running the community pub or post office, you could be a registered social landlord or dealing with youth homelessness, providing employment for ex-servicemen and women or a publisher or a manufacturer providing work for disabled people. Whatever the challenge, we will find you the right solution.

Why PIB Insurance Brokers?

Since starting in 2007, the team has helped a wide range of charity and not-for-profit organisations with their risk management and insurances. So we are used to dealing with social enterprises, care and health providers, Age UK and Age Concern charities, benevolent societies, mutuals, trade associations, small voluntary organisations, village halls, charity shops, museums, YMCAs, overseas aid providers, faith organisations and their places of worship, membership organisations and many more.

Public Liability

Public Liability is an important insurance for charities, social enterprises and faith-based organisations. It protects you from the cost of claims made by third parties (such as a member of the public, a service user or another organisation) for injury or damage to property caused by your organisation’s negligence. It also provides cover for damage or injury caused by property or land which the Insured owns or controls (Property Owner’s Liability).

The cover will also include negligence in the provision of medical treatments where the service is provided by a qualified practitioner, following instructions or administering prescriptions provided by a medical professional.

Products Liability covers you for the cost of a claim for injury or damage caused by a product you either supply or produce.

These two insurances are often packaged together.

Employer’s Liability

A legal-required for your organisation if you have any employees. This insurance protects you against the cost of paying claims for illness or injury sustained by your employees or volunteers as a result of your negligence.

Trustee Indemnity

Trustee Indemnity covers the organisation and its Trustees, Directors and Officers from claims arising out of an act, error or omission. This is not a legal requirement but is often viewed as a means of financial protection in the event of civil litigation and it reassures trustees that there is insurance to protect them if they are held to be personally liable.
This section can include extensions for Employment Practices (losses in connection with a breach of an employment contract or a dismissal or pay dispute), Professional Indemnity (losses from errors in the provision of advice, design or consultancy to a third party) and Fidelity Guarantee (theft of money or assets by an employee or volunteer).

Property Damage

Property Damage provides cover for your organisation’s assets, such as buildings, contents and other physical property you either own or are responsible for. Another section of cover called Specified Business Equipment All Risks provides cover for equipment used away from your premises.

Equipment normally insured under this section includes laptops, mobile phone and portable electronic equipment as well as other items such as camping equipment, regalia and trophies.

Specified Business Equipment All Risks

This provides cover for equipment used away from your premises including laptops, mobile phone and portable electronic equipment as well as other items such as camping equipment, regalia and trophies.

Business Interruption

Business Interruption covers your organisation for losses caused by interruption to your activities and operations following an insured incident at your premises where there is material damage insurance in place. Different types of Business Interruption cover available include Additional Expenses, Loss of Revenue or Gross Profit, or Rent.

Professional Indemnity

Professional Indemnity provides cover for any actual or alleged act, error or omission that may have resulted in civil litigation following the organisation providing negligent or erroneous advisory, counselling, consultation and other services to a third party.

Money

Money provides cover for theft of money and the fraudulent use of stolen credit or debit cards. It can also provide financial support for your organisation following bodily injury or death of an employee, trustee or volunteer as a result of an assault in the course of their duties.

Legal Expenses

Legal Expenses protects your organisation from the legal costs arising from a range of scenarios including legal defence of contract disputes, appeals and investigations. This cover provides peace of mind to your organisation through access to legal advice and to provide financial protection in the case of unexpected legal proceedings.

Fidelity

Fidelity can reimburse an organisation for any loss of money or assets resulting from the fraudulent or criminal actions of an employee, or from the actions of a third party working in collusion with an employee. Where those losses cannot be recovered, the insurance will restore the lost funds or assets.

Cyber Liability

Cyber Liability provides cover areas such liabilities to third parties from issues such as breach of confidence or onward transmission of virus, replacing funds or assets lost in a cyber-theft, and libel and slander.

Event Cancellation

Non-profit organisations often host fundraising and community-based events that require insurance. Venues may require you to hold Public Liability in order to host an event on their premises. Many types of events are included under Public Liability, but this can be extended for larger events. CaSE Insurance can also offer Event Cancellation cover.