Charity Trustee Networks (CTN), the organisation which supports Trustee network, together with leading insurance and risk manager for the charitable sector, Zurich, is responding to the unease of charity trustees concerning their legal liabilities with the launch of a membership scheme, trusteenet plus. Members of trusteenet, CTN's online community for trustees, will now be eligible for Zurich’s tailored Trustee Indemnity Insurance “safety-scheme” as an added benefit of their overall membership package which includes access to help, support and best practice advice.
The scheme will provide individual trustee members with cover for any work carried out on behalf of all of the charities they represent, as well as any claims costs. In addition, Zurich will provide support in the event that a claim is made against a trustee. As it stands, for the many trustees who sit on more than one board, responsibility would lie with them as individuals to arrange their own cover for those charities that do not have such a scheme in place.
There are over 900,000 trustees in the UK, yet the issue of protecting them has previously lacked clarity. Recent research by The Governance Hub, (a partnership of organisations funded by Capacity Builders) identified that 15 per cent of trustees surveyed harboured concerns regarding the high levels of responsibility associated with their roles and therefore the financial and legal liabilities they may face.
Paul Emery, Head of Charities and Voluntary Sector at Zurich said:
“The role of charitable organisations in our society is changing and in line with that so are the risks that they face. Zurich and CTN have responded to those changes by launching trusteenet plus, which seeks to provide members with peace of mind and reassurance so that they can focus on meeting their objectives. In addition, and of equal importance, is that it helps CTN create an environment that enables charities to recruit and retain high calibre trustees. Previously, potentially suitable trustees may have been discouraged from taking on a role due to the lack of available insurance cover and concerns about the risks they may face. We have worked incredibly hard with CTN to find a relevant and secure product which will work for them and their membership and I am very pleased that we have been able to develop such a compelling solution together.”
Karen Heenan, Chief Executive Officer, Charities Trustee Networks commented;
"We are committed to providing the best possible package of benefits to our members and insurance cover provided by Zurich is an important part of that package.”
Heenan continued; “Although we know that it is very rare, when a trustee is exposed to a potential claim against them it can be enormously distressing. As well as offering indemnity to trustees, this Scheme provides confidential and expert guidance, and cover for the legal costs of defending any claim.”
