infographic: the big risks facing the charity sector
TRANSCRIPT
The BIG risks facing theUK Charity & Not for Profit sector
of charities may struggle to meet theircharitable objectivesThe Funding Challenge, Baker Tilly, 2013
46%
Are you aware of legislative changes regarding defence against liability claims?
How do you mitigate health & safety and public liability risks?
1/3of public liability claims
received by a leading charity insurer are for slips and trips...
Ecclesiastical Insurance Group (EIG)
18%– the amount
public liability claims have increased byEcclesiastical Insurance Group (EIG)
30%of charitiesdon’t havea risk policy and...
41%have no action plan to address risks higher than their risk tolerance
Charities Risk Survey, 2012 (CFDG & PKF)
Guardian Voluntary SectorNetwork Survey
of charities worry about maintaining quality of service withreducedresources
30%
In today’s litigious societyare you adequately covered?
Trustees are liable for the actions of their charity,
yet some have limits of Trustee Indemnity as
low as £250,000...
in donations could be lost as a consequence of new rules on cold callingThird Sector Research
£4m
of not for profit organisations provide professional advice... Do you have adequateProfessional Indemnity cover?SME Insurance Survey 2014, Datamonitor Financial
Over40%
Guardian Voluntary Sector Network Survey
of voluntary sector organisations say loss of fundingis their biggest challenge
65%
50%of charities provide induction and ongoing training to trusteesSORP 2015: The State of Charities, Baker Tilly
Lessthan
The law states that organisations with an income over £250,000 must have a risk management statement...
Do you? How confident are you that it is fit for purpose?
www.thesundaytimes.co.uk
The top 40UK charities are reported to have a combined pension deficit of
£5.5bn
Talk to usFor advice about these, or any other risks facing your organisation, please get in touch. We would welcome the opportunity to offer you our expert advice with a free, no obligation consultation. Call us on 0330 660 0148, email us at [email protected] or visit www.lucasfettes.co.uk/charitiesandnfpLucas Fettes & Partners Ltd are independent insurance intermediaries authorised and regulated by the Financial Conduct Authority. Lucas Fettes & Partners (Financial Services) Ltd are independent and restricted financial advisers authorised and regulated by the Financial Conduct Authority.
of a charity’s annual income (on average) comes from their investment portfolio SACEVO Report: Commission on Ethical and Responsible Charity Investments
6%
22,000 charities are due to stage for automatic enrolment in 2015 and beyond... Have you prepared for the financial implications of automatic enrolment?