Social Enterprise Insurance

Social Enterprise Insurance

Community Interest Company Insurance

Community Interest Company Insurance

Insurance solutions for social enterprises and community interest companies 

We’re a social enterprise too.

As a social enterprise ourselves (we’re part of Scouts) and specialist insurance broker for the charitable sector, we know the way social enterprises and community interest companies (CICs) operate, their activities, and the risks they face.  This makes us the right choice to arrange your organisation’s insurance. 

Unity can offer a detailed picture of your organisation’s threats and risks and advice on how to address them through risk management practices and insurance. 

By working with leading insurers in the not-for-profit  sector and specialist underwriters, we can provide wide-ranging insurance policies designed for not-for-profit organisations at affordable prices. Let us help you make sure your social enterprise takes out the right cover for the risks it may face.

We're focused on arranging the right insurance cover with great service for UK businesses that have social, charitable or community-based objectives, including:

  • Community interest companies (CIC)
  • Charitable incorporated organisations (CIO)
  • Charitable Trading Companies (CTCs), 
  • Industrial and Provident Societies (IPSs) 
  • Community Amateur Sports Clubs (CASCs).
  • Co-operatives
  • Mutual organisations (owned by its customers and run for their benefit)
  • Limited companies
  • Sole traders and business partnerships

What our customers think of us

  • 84% were very satisfied or satisfied with the service from us.

(based on 411 replies to our surveys from June 2021 to May 2022)

Insurance covers for community interest companies and social enterprises

Find out more about some of the covers we can arrange for your organisation either as a package insurance policy or stand-alone policies.
 

Why does your community interest company or social enterprise need insurance?

If your organisation wasn’t insured and suffered a serious loss such as major damage to its buildings or a large claim, you’d have to cover the loss from your own funds.

In the worst cases, you may have to close, cut back or stop your core activities. The loss may not only be the cost of replacing physical assets such as buildings and equipment, but also the loss of income while these are replaced. The costs of claims made against your organisation could be damaging, both financially and to its reputation. 

You can reduce your risks, but some cannot be removed

Risk management can minimise your risks, but in some cases you don’t want to or can’t eliminate the risk completely. Unfortunately, some threats to your organisation are outside your control.  Insurance can mitigate those risks you cannot completely control or remove. 

Some types of insurance are a legal requirement 

Some types of insurance cover are required by law. If your organisation employs people or owns motor vehicles, you must take out the necessary insurance.

What cover may your community interest company or social enterprise need?

Asking yourselves the following questions should help your CIC get the protection it needs and avoid unnecessary costs. 

What insurance must you have by law?

Some cover is required by law. Firstly, if your social enterprise employs people, you must have Employers’ Liability Insurance. Secondly, if it owns, loans or rents vehicles, you must have motor insurance.

What risks do you face?

Each social enterprise has unique insurance needs according to their activities and assets. A comprehensive  risk assessment of your organisation should highlight the risks it faces.

What claims could be made against your organisation?

Your social enterprise could be exposed to compensation claims and, in an increasingly litigious society, you can never be too careful. Public Liability Insurance can cover many risks involving members of the public, such as harm caused by the actions or negligence of your staff or volunteers. If you sell goods, a Public Liability policy can also include Products Liability cover, which covers your liability for products you make available to the public. If you give advice or training, Professional Indemnity Insurance covers you if your services result in a financial loss or other grievance. 

Do you own a building?

If a serious disaster strikes and your CIC’s offices or premises are damaged or destroyed, the right buildings and contents insurance policy can help pick up the bill. 

Do you rely on a trading income to operate?

Unlike charities, who mainly reply on donations, community interest companies tend get most of their income from trading and selling something.  Business Interruption Cover would help cover the shortfall in income and pay any increased running costs, while you get your building back up and running.

Do you want to protect your directors and management ?

Your directors or senior management could be personally liable to make good the CIC’s losses. Directors and Offers Cover can provide protection to the organisation and to directors where they may be held personally liable.

speak to our friendly insurance experts - Alex

Find out how we can help your social enterprise or get a quote.

If you're a director, manager, trustee, treasurer, member of the exec committee or run a social enterprise or Community Interest Company call or email our team of insurance professionals. 

Alex

telephone

0345 040 7731