Insurer ACE Group has launched a directors & officers (D&O) insurance cover for charities and not-for-profit organisations based in the UK & Ireland.
ACE Elite Not For Profit is fully compliant with the UK Insurance Act 2015. According to the insurer, which also has operations in Bermuda, it provides separate limits of indemnity for individual trustees, the organisation and employment practice liability, according to the firm, as well as policy limit pre-investigation and investigation cover for individuals.
The policy covers insured person liability (up to a maximum of £10 million); organisational legal liability (up to a maximum of £5 million); organisation employment practices liability (up to a maximum of £5 million); employee dishonesty (£50,000 limit); and kidnap and ransom (£25,000 limit).
In addition, it provides access to legal advice from law firm Gateley via a dedicated helpline, offering independent and confidential guidance from specialist solicitors on employment practice and D&O matters, according to ACE.
“With proposed amendments to the Charities Bill aimed at tackling serious abuse of charities and increased scrutiny over charities’ fundraising and management, charity trustees and directors are becoming increasingly vulnerable to claims,” said the reinsurer.