Yes, the insurance covers your Club trust that is used to hold money and other assets.
Such a trust is simply an entity to keep those assets separate from Club revenue or trading activities.
To advise the insurer of the trust(s) and the required insurance enter as a Named Party by pressing Add on the sub-menu for Named Parties.
You should add the Trust name after choosing the Role (Trustee) and Organisations Type (either trading or non-trading)
Without that information added the insurer does not know about the trust and the cover required for the trust and its trustees.
The programme checks to see if there is trust and if no trust is entered then "refers' the information for a check by the insurance team. This is done to ensure that your trustees are covered by the master policy if you have a trust and if none to confirm how your Club is risk managing the 'Fiduciary' risk - the risk associated with "holding a legal or ethical relationship of trust with one or more other parties (person or group of persons)." Donations and trust funds are not part of the Clubs operating assets and should be kept apart to ensure the money is used for the intended charitable purposes.
We were fortunate to be able to insure both the Club and its non-trading financial trust under the one policy. No further premium is payable.
However if there is a 'trading' trust the insurer needs to know about the trading activities of trust. By entering any trading trust as a Named Party and uploading the trust deed the insurance team can then provide advice on any required additional insurance.
Additional non-trading or trading trusts are either insured separately or are insured by an extension of cover.
After entering the trust as a Named Party the insurance team will contact you to discuss your requirements.
Trading trusts are very useful if the Club has a ongoing activity (whether weekly, yearly etc) and the activity involves events with public admission. If you have such an activity please read the articles on events.
If you have entered the information but omitted adding a trust, please file a Helpdesk ticket with details of your trust, your Club name and a mobile number so that the insurance team can unlock the information sheet so you can log back in and add the trust as a Named Party.
To add the trust deed(s) please, in the Documents section, first choose the trust name from the drop down list, add a description and an effective date and then from your local files upload the trust deed, as you have already done with the Constitution.
Once you have entered the trust information and completed the document upload, please step through (see the Stepper buttons at the top of the web page) to Declaration and re-declare.
The system will then notify the insurance team and once reviewed, will then issue your insurance documents with the Trust as well as the Club as a named party.