If you're in a responsible position at a Mosque or Islamic school, you might be wondering why you need Trustees' Indemnity Insurance. Isn't it just another cost that you could do without?
Well, you could - after all, there's no legal requirement to have this cover, or any other Mosque insurance cover. But insurance is all about protecting ordinary people against risk and those in charge are leaving themselves open to some huge risks if they don't get trustees’ indemnity cover for Mosques and Islamic schools.
Trustees’ indemnity cover for Mosques and Islamic schools usually offers cover amounts going up from a quarter of a million to two million pounds - that's how much you might need to provide unless you have indemnity cover. You might also think that nothing will go wrong that could leave you liable.
But what if another trustee did something that left you with the risk? Trustees’ indemnity covers you against the errors (or omissions) that other trustees make. It could be something as simple as not locking up properly one night.
Policies can also cover you against losing or damaging documents, legal fees for defending yourself and even marketing and PR costs (usually with prior approval) to minimise reputational damage from adverse publicity arising from an incident.
Take a look at the cover and select the right options for you. It should really be part of a comprehensive set of Mosque insurance policies, or for Islamic schools for that matter.
Remember, it's often not until something goes wrong that people realise the importance of insurance.
