Dont skimp on or neglect your Charity Insurance.
The Charity Commission, the regulator of charities in England and
Wales, recently released its 2013 annual report detailing its efforts to
tackle abuse and mismanagement within the charity and not-for-profit
According to the Commission, the report is meant to help the public
understand how mismanagement in charities is tackled and to allow trustees and their advisors to learn from mistakes other charities make.
The report should serve as both an overview and a learning tool. Continuing the trend of previous years, the 2013 report found that fraud, financial abuse and financial
mismanagement dominated the Commission’s workload—23 of its 29
most serious investigations this last year involved financial misconduct. Over one-third of total incidents reported by charities were financial Charities and not-for-profits, like any
other organisation, are susceptible to a business disruption, such as a natural disaster or equipment failure, that makes it impossible to continue normal business operations. However, despite the risks, some charities continue to skimp on or completely neglect business continuity planning (BCP), believing that, as a charity, they are immune to large-scale disruption.
Some charities rely on their Charity insurance policies to tide them over when disaster strikes, but insurance is not enough to mitigate the negative and far-reaching effects of business disruption. A business interruption policy provides a safety net should your organisation stumble, but it will not instantly prop (Continued on next page.) Charity Commission’s Abuse and Mismanagement Annual Report The Importance of Business Continuity.
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DID YOU KNOW?
There was a 25 per cent increase in data breaches across all UK industries from the
first to the third quarter of 2013. Cyber attacks show no sign of slacking—respond
in kind by strengthening your charity’s cyber security.
Risk management tips brought to you by the insurance professionals at Inspire Insurance
Services transgressions. Other key figures from the report include:
• Total 2012-13 income of charities overseen by the Commission: £138,686,060
• Operational compliance cases opened: 1,513
• Serious incidents reported by charities: 971
• Whistle-blowing reports made by charities: 98 Read the full report at