Gloucester, England (PRWEB UK) 18 May 2012
Specialist charity insurance provider Ecclesiastical has today published a new guide for charities on minimising risks emerging from structural changes and changing charity business models. The new publication aims to give not-for-profit organisations advice on how to manage risks ahead of mergers, in collaborative working and public service provision arrangements and when setting up new types of charity business enterprise.
The guide comes in response to a survey carried out by Ecclesiastical in late 2011 which found that 26% of the charities questioned were considering consolidating or merging with another charity in the next few years, 23% said they had already restructured, 18% said they were setting up a new social enterprise and 9% were becoming a Community Interest Company.
The document entitled “Preparing to meet the demands of changing times” considers issues around and gives advice on collaborative working, charity mergers, setting up Social Enterprises and Community Interest Companies, and bidding for public service contracts. In addition to practical guidance, the report also includes a number of case studies from charities who have experience in all the above areas, including Carers Trust and the Terrence Higgins Trust.
Martyn Turner, Charity and Community Underwriting Manager at Ecclesiastical, said: “Our research clearly showed that the charity sector is bracing itself for significant changes in the coming years. It comes as no surprise that charities are responding to the current tough economic times by re-evaluating their business models and many are planning to implement structural changes in the near future.
“Although times are extremely tough for charities, there are also new opportunities, such as the increase in public service contracts available for bids. With the right kind of advice and support charities should be able to take up new opportunities that are right for them with minimum risk and maximum benefit.
“There is plenty of helpful advice from experts already out there on this topic, but nothing detailed addressing the key insurance issues and risk management. We hope that the advice we’ve compiled into this report will be a great help for any charity on the verge of change.”
The new guide will be launched at the Charity Finance Group’s Annual Conference in London today. An electronic copy of the document is now also available to download free on Ecclesiastical’s website at http://www.ecclesiastical.com/fororganisations/insurance/charityinsurance/guidanceadviceandsupport/changing-times/index.aspx.
Katri Link, Public Relations Manager, Ecclesiastical Insurance
Tel: 01452 873162
Beaufort House, Brunswick Road, Gloucester, GL1 1JZ.
Adrian Beeby, Ellipsis Communication
Mobile: 07879 403564
Tel: 01249 758192
Ecclesiastical is a specialist insurer of charities, the education, care and faith sectors, heritage buildings and fine art.
Founded in 1887 to provide insurance for the Anglican Church, we now offer a wide range of commercial insurances, as well as home, travel and wedding insurance, selling through brokers and direct.
Ecclesiastical also offers a range of ethically screened investment funds and has a team of Independent Financial Advisers.