It comes as it published its second Charity Risk Barometer which revealed that just under three quarters (71%) of charities have said they are more concerned about loss of funding as a direct result of Covid-19.
The Charity Risk Barometer which was composed by YouGov, surveyed 250 charities to formulate its results.
The results from the respondents has identified five main risks for the next 12 months which included loss of funding (55%), employee burnout (44%), political instability (43%), meeting the needs of service users due to Covid restrictions (42%) and finally the impact of Brexit (35%).
Angus Roy, charity director at Ecclesiastical Insurance, said: “Charities have become used to dealing with challenges, but this year has given us a perfect storm of a loss of funding through fundraising activities, a reduction in giving from corporate partners, as well as the general public, and an increase in need has left many charities at crisis point.
“As one of the leading insurers of charities in the UK, Ecclesiastical’s goal is to be a strategic partner to the charity sector. Our aim is not only to help customers identify and manage their risks but also to work with them to provide solutions for the longer term – something we believe is critical as we emerge from the fog of Covid-19.”
He added: “Brokers have an important role to play in supporting their charity clients to understand and manage their risks and we hope this new report will provide invaluable insight for them.”