FINANCE NEWS: CFDG backs idea of insurance mutual for charity sector

The Charity Finance Directors' Group (CFDG) has welcomed moves to set up a mutual to solve the sector's insurance crisis.

Consultant Z/Yen has been commissioned by Charity Logistics to undertake a feasibility study on the idea of a charity insurance mutual which is due to be completed by April.

CFDG members will discuss the mutual proposal at their next meeting on 11 March along with other strategies to meet the sector's future insurance needs.

Director Shirley Scott said: "One way forward may be a charities mutual, now the subject of a feasibility study. Other studies have been done before but the climate has changed recently."

"Charities do work in high-risk areas but it is not easy to appeal for funds to cover insurance premiums, nor keep administration costs at an acceptable level when costs beyond the control of the charity rise too rapidly," she said.

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