Markel UK launches not-for-profit insurance product

Markel UK, the specialist insurer, has launched a new product which, according to the firm, is designed to meet the specific insurance needs of not-for-profit organisations.

The product, which is based on its social welfare policy, caters to a wide range of charities and non-profits, from professional and trade bodies, to grant making and research organisations.

It offers cover for three main areas of risk that not for profit organisations will face: their responsibility to third parties, including public and professional liability; responsibility as an employer, including employers’ liability coverage; and protection of property and physical assets.

“Despite the tough economic climate, the UK charity and not for profit sector continues to flourish, providing diverse and much needed services to all areas of the community,” said Wendy Cotton, technical line manager, social welfare.

“As an experienced insurer of many charitable organisations we understand that it is crucial to have the right level of insurance cover to avoid the potentially devastating impact even a small claim can have.

“Building on the success of our existing not-for-profit product the new policy widens the scope of cover available, providing a comprehensive solution to respond to the insurance needs this sector requires.”