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Hiscox : new Charities Insurance Portfolio

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Specialist business insurer Hiscox has launched its new Charities Insurance Portfolio product for charities, clubs and associations. The bundled liability and property package will enable charities to meet their insurance needs with the peace of mind of dealing with one policy from one insurer.

The Charities Insurance Portfolio, available via brokers, provides trustees with separate limits for professional indemnity, employer practices liability and trustees’ liability cover, as well as covering charities for their commercial premises and events related risks.

The package includes:

– public liability cover (including volunteers at fundraising events)

– employers’ liability

– bequeathed contents cover

– crisis containment cover (PR costs)

– business HR

– fidelity cover

Charities will also be able to buy optional covers, such as event cancellation, and medical malpractice liability.

Commenting on the launch of the Charities Insurance Portfolio product, John Heaney, Head of Professions and Specialty Commercial Division, Hiscox UK, said: “Having one insurer offer a single product to cover the range of risks that charities, their trustees and volunteers face will reduce the risk of a charity having potentially expensive gaps in their insurance. In addition, it makes the whole process easier to manage for both brokers and their charity clients.

“With this product, we have combined the financial protection that trustees should have, such as professional indemnity and employment practices liability cover, with the more conventional commercial cover that every charity needs.”

Brokers will also be able to offer the Charities Insurance Portfolio using pre-priced proposal forms for charities, clubs or associations with up to £2 million of income.

Source : Hiscox Press Release