Partner Article

Gloucestershire insurance provider issues Charity advice guide

Charity insurance provider Ecclesiastical has published a guide for charities on minimising risks emerging from structural changes and changing charity business models.

The publication aims to give not-for-profit organisations advice on how to manage risks ahead of mergers, in collaborative working and public service provision arrangements and when setting up new types of charity business enterprise.

It follows a survey from Gloucestershire based business last year, which found that 26% of the charities questioned were considering consolidating or merging with another charity in the next few years.

23% said they had already restructured, while 18% said they were setting up a new social enterprise, and 9% were becoming a Community Interest Company.

“Preparing to meet the demands of changing times” gives advice on collaborative working, charity mergers, setting up Social Enterprises and Community Interest Companies, and bidding for public service contracts.

It also features a number of case studies from charities who have experience in all these areas, including Carers Trust and the Terrence Higgins Trust.

Martyn Turner, Charity and Community Underwriting Manager at Ecclesiastical, said: “Our research clearly showed that the charity sector is bracing itself for significant changes in the coming years.

“It comes as no surprise that charities are responding to the current tough economic times by re-evaluating their business models and many are planning to implement structural changes in the near future.

“Although times are extremely tough for charities, there are also new opportunities, such as the increase in public service contracts available for bids.

“With the right kind of advice and support charities should be able to take up new opportunities that are right for them with minimum risk and maximum benefit.

“There is plenty of helpful advice from experts already out there on this topic, but nothing detailed addressing the key insurance issues and risk management.

“We hope that the advice we’ve compiled into this report will be a great help for any charity on the verge of change.”

This was posted in Bdaily's Members' News section by Tom Keighley .