Why do I need Fidelity, Professional Indemnity and Employment Practices Insurance?
The extensions to the Trustee’s Indemnity or Directors and Officers Liability Insurance cover each offer valuable protection if the organisation perceives there to be potential exposure. Unfortunately, employee theft is prevalent in today’s society and the Fidelity extension covers this eventuality. Again, disputes with employees are becoming more regular and the cost of investigations and potential awards are increasing; the Employment Practices Liability extension protects against this. If the charity or social enterprise and/or its trustees provide professional services or advice to others, they leave themselves open to potential claims for errors or omissions when providing those services. Professional Indemnity cover gives protection against this eventuality.
