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Community interest companies (CICs) and trusts face many risks to their organisation, many of which can be protected against on a CIC commercial combined policy.

The guide below provides an overview of the covers that Community Interest Companies need in order to ensure their organisation is comprehensively protected.

Public liability insurance covers the cost of defending claims made against your CIC or trust if someone is injured, or their property damaged, due to your negligence. It protects you against many common personal injury scenarios – for example, a visitor slipping and injuring themselves during an event held and or organised by your CIC.
Products Liability insurance covers the legal liability of your business against injury or damage arising from the design or manufacture of goods made, repaired, sold or supplied by you in the course of your business. It covers liability for compensatory costs, legal fees and any other costs associated with the case.
Employers’ liability insurance is a legal requirement if you employ staff or volunteers. It covers against allegations of injury or illness suffered by staff during their employment. If your Community Interest Company or trust has employees on a full time, part time or volunteer basis, this cover is a legal necessity.
Professional indemnity insurance covers the cost of defending your trust or CIC against allegations of professional negligence. For example, if you are accused of providing poor or negligent advice to a client. It covers the legal fees, as well as any compensation that may be payable.

Trustee Liability insurance covers the legal costs and expenses of defending against disqualification as a trustee, investigations or extradition proceedings. You should consider arranging trustee indemnity insurance for your CIC or trust’s trustees to protect them against these risks.

Directors & Officers Insurance also known as D&O insurance offers protection in respect of claims brought against directors of the business for actual or alleged wrongful acts of key decision makers in your business.

Property damage insurance covers your buildings, general contents, stock, computer equipment, tenant improvements and glass against accidental damage, fire and theft whilst on your group’s premises. You can also choose to insure your community group’s equipment such as laptops and mobile phones when they are away from the premises.

Business interruption insurance can cover your business against the temporary loss of revenue caused by your business having to stop trading due to an insured event. It could also cover any additional expenses involved in keeping your business going such as renting temporary premises or hiring extra staff.

Legal expenses and employment disputescover can protect your Community Interest Company or trust against employment disputes, official investigations and other serious matters, including corporate manslaughter, identity fraud, crisis management, official investigations, pollution and data protection issues.

.Money and personal assault insurance covers loss of money. In addition to this if any staff members trustees or volunteers are injured during a robbery or attempted robbery this policy will provide a lump sum or weekly payment to them (depending on the nature of the injury).

Cyber and data risks insurance protects your CIC or trust in the event of a cyber attack. It offers a variety of covers including the costs of restoring data and equipment, informing your clients, meeting ransom demands and loss of your net profit. It also pays your legal defence costs and damages you are legally liable to pay to other parties.

Fidelity insurance protects your Community Interest Company or trust against fraud or dishonesty by volunteers or employees. For example if the employee or volunteer who handles your accounts was found to have stolen funds from the organisation for their own personal benefit.

Motor Insurance If you own, lease or rent a vehicle you are legally obliged to hold the appropriate road traffic act covers. IIt protects you, your vehicle and other motorists against liability in case there is an accident. It provides financial compensation to cover any injuries caused to people or their property.

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