Resources
Music to My Ears: Learning is Fundamental
“The beautiful thing about learning is nobody can take it away from you.” -B.B. King. By Melanie Lockwood Herman During a prior Risk Summit session titled “Deconstructing Delicious Dishes: An Insurance User’s Guide,” Scott R. Konrad, SVP and Not-for-Profit Practice Leaders at HUB International Limited, shared the acronym “DICE” as a tool for remembering 4 … Continued
Lessons from the Pandemic: On the Road to the Next New Normal
Risk programs have been forced to adapt rapidly during the pandemic. All nonprofits have had to pivot in myriad ways to respond to the ever-changing situation. This “Black Swan” event left many nonprofits scrambling to adapt risk assessments, policies and procedures, and risk management practices. In this webinar, we explore graceful adaptations and silver linings … Continued
From Service Provider to Mission Champion: Maximizing Your Relationship with Your Insurance Advisor
Insurance agents and brokers who specialize in helping nonprofits are too often an underutilized, untapped resource. In some cases, that’s because nonprofit buyers believe that coverage is a commodity and mistakenly only view their agent or broker as a salesperson. In other instances, it’s because the agent or broker fails to communicate the ‘value-added’ support … Continued
5 Ways to Make the Insurance-Buying Process Seamless for Nonprofits
By Chris Hale Insurance goes hand in hand with effective risk management. Yet, while the nonprofit sector may be incredibly diverse, many nonprofits and social service organizations share the mutual challenge of finding the right insurance policy for their specific, often highly nuanced, needs. This is especially true during the initial stages of vetting and … Continued
Demystifying Cyber Liability Insurance
By Whitney Claire Thomey Every nonprofit that collects and stores confidential information, Personally Identifiable Information (PI), or Protected Health Information (PHI) is vulnerable to a costly data breach and its consequences. Data breaches, denial of service attacks, and phishing scams are a sampling of methods that cybercriminals use to steal and extort data. Organizations must … Continued
Demystifying Cyber Liability Insurance
By Whitney Claire Thomey Every nonprofit that collects and stores confidential information, Personally Identifiable Information (PI), or Protected Health Information (PHI) is vulnerable to a costly data breach and its consequences. Data breaches, denial of service attacks, and phishing scams are a sampling of methods that cybercriminals use to steal and extort data. Organizations must … Continued
NRMC Q&A with Ed Partridge
Ed Partridge is the Northeast Underwriting Manager at Care Providers Insurance Services — a best-in-class program built by NSM Insurance Group, the nation’s leading provider of specialty insurance programs. Visit info.ins-cps.com to learn more or contact Ed at ECPartridge@nsminc.com. What changes are happening in the insurance industry that our readers (nonprofit leaders) should be focused … Continued
Are We Covered? Your Nonprofit’s Insurance Policies and COVID-19 Claims
This article was adapted from a Client Alert published on March 20, 2020 by the law firm Stradley Ronon Stevens & Young, LLP. NRMC is grateful to the firm for permitting us to adapt their excellent piece for our nonprofit audience. We are also grateful to attorneys Jeffrey S. Tenenbaum of the Tenenbaum Law Group … Continued
Insurance FUN-damentals: A Broker’s View
This week we speak with Derek Symer, a Principal and Senior Vice President at AHT Insurance. Derek brings two decades of experience and a unique understanding of nonprofits to his clients. His passion for this sector drives his continued knowledge sharing and gives him valuable insight into the multitude of risks facing nonprofit organizations today—ranging … Continued
Fiscal Sponsorships: Managing Risk and Reward
By Glenn Mott and Colleen Lazanich This week we speak with Colleen Lazanich, CEO of CalNonprofits Insurance Services, the only social enterprise insurance brokerage in California. She has more than 30 years of experience across the insurance industry, with more than 20 years specializing in nonprofits. Colleen has worked for carriers, wholesale brokers and retail brokers … Continued
Insights from Insurance Industry Thought Leaders
By Melanie Lockwood Herman During the most recent Risk Summit, we hosted a lively session titled Insurance Industry Insights. Featured on the dais were senior leaders from insurance carriers that specialize in insuring nonprofit organizations. We explored trends in the insurance sector and panelists also answered questions from RISK eNews readers and Affiliate Members. The … Continued
Lessons from Insurance Thought Leaders
By Melanie Lockwood Herman Although there are risk professionals throughout the nonprofit sector who know a great deal about the property and casualty coverage they buy for their organizations, some buyers purchase policies first, and ask questions later. Relying on simplified coverage descriptions and failing to read the fine print are risky recipes for disaster. … Continued
Repairing Broken Insurance Broker Relationships
By Erin Gloeckner The inaugural Risk Leadership Certificate Program (RLCP) is complete and the NRMC team looks forward to inviting a new cohorts of nonprofit risk professionals to join RLCP in future programs. Contact Melanie Lockwood Herman (Melanie@nonprofitrisk.org) to apply for RLCP, or read on to share in the learning from our first RLCP cohort. During the … Continued
Glossary of Risk Management and Insurance Terms
This glossary was originally published in Coverage, Claims and Consequences: An Insurance Handbook for Nonprofits. Accident — Unexpected or chance event. This term is frequently defined in older commercial general liability (CGL) policies. Accident medical reimbursement insurance — Covers medical expenses for injuries arising out of accidents, regardless of liability. Traditionally also provides a schedule … Continued
The Insurance Marketplace
A growing number of nonprofit organizations purchase commercial insurance coverage as a form of risk financing. If you’ve ever wondered whether your nonprofit is getting a bang for the bucks you spend on insurance, you won’t want to miss this program. Throughout the webinar, we will explore the roles of the various players in the … Continued
EPLI: What You Need to Know
Employment practices liability insurance has been available to nonprofit employers for decades. EPL policies generally respond to claims alleging wrongful employment practices, such as sexual harassment and illegal discrimination. This webinar will cover the “ins” and “outs” of EPLI so you can gauge the coverage your nonprofit needs. Topics to be covered include nuances of … Continued
Insurance Coverage Q&A
Many nonprofit leaders report difficulty understanding the terms of the insurance coverage on which their nonprofit organizations depend. This webinar offers the chance to pose any coverage-related question and receive an answer in plain language. The program will begin with a survey of common questions about the process of obtaining coverage and an overview of … Continued
Nonprofit D&O: What’s New and What You Need to Know
Nonprofit Directors’ and Officers’ liability coverage (D&O”) has evolved from the early days when only a slightly customized corporate form was offered to nonprofit buyers. Today nonprofit D&O is often the first coverage purchased by start-up nonprofits and regarded as a “must-have” coverage in many nonprofit insurance portfolios. Attend this webinar to learn about how the coverage has changed … Continued
Benefits in the Nonprofit Workplace: Balancing Risk and Reward
Employee benefits can include employee insurance coverage (medical, life, dental, disability, unemployment and worker’s compensation), paid leave and holidays, and contributions to retirement plans, as well as a host of other fringe benefits” that are valuable to attract and retain staff in a competitive hiring environment. Offering too many or too few, benefits can throw … Continued
Employment Practices Litigation: Lessons for Nonprofit Employers
Claims alleging wrongful employment practices are among the most costly claims filed against nonprofits. And, according to several insurers, employment claims represent more than 90% of all claims filed under nonprofit directors’ and officers’ liability policies. This Web Seminar will explore lessons learned from employment litigation involving nonprofits. Watch this Web Seminar if: You want … Continued
Putting Your Insurance Program Out to Bid: A Practical Approach
Is your nonprofit paying a fair price for its insurance coverage? Are you receiving the services you deserve from your agent or broker? If you or any member of your board has asked one of these questions recently you might want to consider putting your insurance program out to bid. Doing so is often seen … Continued
Your Insurance Agent or Broker: Managing the Relationship and Getting the Help You Need
Among the gravest errors a nonprofit can make in managing its insurance program is devoting a great deal of time to the selection process without committing to managing the new relationship. While some relationships fail because the service provider promises more than he or she can deliver, others fail because of neglect on the nonprofit’s … Continued
Professional Liability Insurance: Understanding the Exposure and the Coverage Options
Many nonprofit leaders are unaware that they are exposed to claims alleging negligence in the delivery of professional services. Even more serious is the failure to recognize that these claims are generally excluded under the nonprofit’s existing general liability and directors’ and officers’ liability policies. Professional liability coverage is needed by a wide range of … Continued
Evaluating the Adequacy of Your Insurance Coverage
There are some standard policies that many nonprofits buy; then there are special coverages that relate to specific mission-related risks. How you know what is right for your nonprofit involves some list making and analysis. It also involves knowing how to read an insurance policy to determine what is and isn’t covered. And that isn’t … Continued
Insurance Basics for Nonprofits
The world of commercial insurance is complex and always changing. It’s no wonder that nonprofit managers, executives and board members often struggle trying to understand how coverage works and the process for obtaining comprehensive and affordable coverage. For longer than a decade, the staff at the Nonprofit Risk Management Center has been training nonprofit leaders … Continued
Contemplating Coverage: Insurance for Nonprofits
By Melanie Lockwood Herman and Erin Gloeckner Are you suddenly responsible for buying insurance for your nonprofit? Or perhaps you have been responsible for some time but have just realized that there are a few gaps in your understanding of what you buy, why you buy it and how to evaluate providers, products and the … Continued
Four Quick Tips to Understand Commercial Insurance Policies
1. Take Advantage of Electronic Formats — Many insurance companies now issue policies in an electronic format with headings that can be clicked on to zero in on a particular policy section or particular endorsement. This makes it much easier to navigate and review the policy. 2. Seek Assistance from Your Agent — Regardless how … Continued
Get with the Program: Wellness in the Workplace
July 1, 2015 By Lexie Williams and Erin Gloeckner Life-saving medical treatments and devices have lulled many Americans into believing that an increase in life expectancy is a sure thing. But former U.S. Surgeon General Richard Carmona provided sobering news when he said that “Because of the increasing rates of obesity, unhealthy eating habits, and … Continued
What Do You Know About D&O?
This issue of Risk Management Essentials is devoted to exploring nonprofit insurance policies and coverages. While there are many different policy types and forms with which risk leaders should be aware, one of the most talked-about and valued policies for nonprofits continues to be directors and officers liability insurance, commonly known as D&O. Question #1: … Continued
How to Read an Insurance Policy
By Emily Stumhofer Reading a commercial insurance policy is not an intuitive practice and most people find insurance policies difficult to comprehend. Unlike a good book, it is not a document you can curl up with and casually read from beginning to end. Policies are known for being confusing and complicated, and sections frequently cross-reference … Continued
Cyber Liability: Internet Killed the Radio Star
By Erin Gloeckner Remember the first music video that premiered on MTV? The Buggles’ “Video Killed the Radio Star” questioned the impact of new technology on the music industry. Technology and music videos have come a long way since then, and cyber culture continues to be both a benefit and a burden for public entities … Continued
Data Privacy and Cyber Liability: What You Don’t Know Puts Your Mission at Risk
By Erin Gloeckner and Melanie Lockwood Herman If you were a long-time donor to a nonprofit, and just learned that your credit card details provided to the nonprofit to make a donation are now in the hands of a hacker, would you ever trust that organization again? In an article about nonprofits and sensitive data … Continued
What Basic Insurance Coverage Should a Nonprofit Consider?
By the Nonprofit Risk Management Center The first issue for any nonprofit seeking to purchase insurance is to find an experienced, trustworthy insurance agent or broker who understands and specializes in serving nonprofit organizations. Nonprofits are different from commercial businesses and public agencies, and are best served by an insurance professional who appreciates those differences … Continued
Drafting a Memorandum of Understanding
By the Nonprofit Risk Management Center An effective Memorandum of Understanding (MOU) prevents misunderstandings and disputes by clarifying the expectations of the partners. The process of developing an MOU is an instructive and potentially invaluable experience in partnering. You will learn how responsive your partner will be—are your calls returned promptly? Does your partner give … Continued
Employee Handbooks: Risk Management Road Maps
By the Nonprofit Risk Management Center Creating written workplace policies and procedures that are legally up-to-date and easy to follow is as important as having adequate insurance. Policies that are clearly communicated to staff and consistently applied serve to safeguard against improvised solutions that can result in a lawsuit. Written policies are the starting point … Continued
Year-Round Tips for Sports/Recreation Programs
By the Nonprofit Risk Management Center Sample waivers, check lists and practical help with topics identified here can be found in Playing to Win, A Risk Management Guide for Nonprofit Sports and Recreation Programs. The book aims to help the program administrator and leader, whether in a sports organization or other nonprofit, determine effective, practical … Continued
Health Insurance Is a Claims Trap for the Unwary
By the Nonprofit Risk Management Center Eligibility of health insurance coverage under an employer’s group plan terminates when an employee is separated from employment. However, due to the health insurance benefit continuation requirements under COBRA (Consolidated Omnibus Budget Reconciliation Act) and many similar state laws, most employees can elect to continue their health insurance coverage … Continued
How Long Should You Keep Out-dated (Expired) Insurance Policies?
By the Nonprofit Risk Management Center In the event you need to file a claim, could you quickly put your hands on all insurance policies that might cover an incident, including expired claims? Insurance policies cover events that are addressed by claims presented to the carrier at some time in the future. By the time … Continued
Employment Law Issues Continue To Pose Risks
By the Nonprofit Risk Management Center Employment practices lawsuits continue to be among the more prevalent and most draining legal actions that a nonprofit is likely to face. Discrimination claims filed with the EEOC rose 9% in 2007 — the biggest jump in close to a decade. Nearly one-third of those claims included an allegation … Continued
Mark Your Calendar!
By Melanie Lockwood Herman For many of us, the holiday season is a time to re-connect with friends and family with whom we’ve been out of touch. When I was a child, we always received at least one “Christmas Letter,” containing one family’s story of the prior year. Typical Christmas Letters were full of glad … Continued
The Weather Outside is Frightful
By Erin Gloeckner And shivering at work is not delightful. Here in Leesburg, VA, we are experiencing bone-deep cold weather and shocking gusts of wind. Though weather is part of our unpredictable, uncontrollable context, we can resolve to be better prepared for cold weather conditions. Weather exposures affect client and employee safety, insurance coverage needs, … Continued
Myths of Volunteer Risk Management, Part 2
by Hal Denton and Fiona Lally This is the second of a series on common myths associated with the risks of using volunteers in nonprofit organizations. We’ll look at each myth for its impact on liability assessment, the purchase of insurance, and risk management planning. Myth #2 Risk management for volunteers is primarily a question … Continued
The Kids Are All Right
The Kids Are All Right By Melanie Lockwood Herman The beginning of the school year offers a reminder to children and teens that learning isn’t always easy, that hard work generally pays off, and that rules and limits often exist to keep us safe. The same can be said about the lessons, hard work, and … Continued
The Additional Insured
By George L. Head, PhD, CPCU, ARM, CSP, CLU, Special Advisor, Nonprofit Risk Management Center A nonprofit’s commercial general liability policy (CGL policy) goes to great length to specify whom (organizations or individuals) that policy protects. To grasp this, take a look at the Declarations page (dec page) and the section titled “Who Is an … Continued
Professional Liability and Governance Exposures: A Closer Look
Professional Liability and Governance Exposures: A Closer Look By Pamela Davis Of the myriad of exposures encountered by nonprofit organizations, two are frequently unappreciated and confused: exposures resulting from the consequences of corporate governance and exposures resulting from errors and omissions associated with the delivery of professional and paraprofessional services. The coverage forms that have … Continued
Insurance for Cyber Risks
by Melanie Lockwood Herman Today’s nonprofit leaders are aware that dependence on data, software, systems and tech vendors brings untold benefits as well as potential downside risks. From the impact of data loss to claims alleging the failure to safeguard personal information, a nonprofit’s reputation and resources are ‘on the line’ in the online age. … Continued
Increasing Your Liability Protection
Increasing Your Liability Protection Excess vs. umbrella limits By George L. Head, Ph.D. Special Advisor, Nonprofit Risk Management Center
PERI Unveils Online Self-Assessment and Educational Tool
In May 2009, the Public Entity Risk Institute (PERI), a nonprofit research institute focused on support for risk management, launched Insuranceformynonprofit.org, an innovative website that helps small and medium-sized nonprofit organizations assess their insurance needs and submit requests for insurance quotes to participating insurers. According to PERI Executive Director Gerard Hoetmer, “InsuranceForMyNonprofit is more than … Continued
Insurance for Volunteer Programs
The following article is excerpted from Chapter 9 of No Surprises: Harmonizing Risk & Reward in Volunteer Management, 3rd Edition. Claims Against the Volunteer Fear of incurring personal liability for volunteer service isn’t uncommon among the estimated 90 million Americans who perform volunteer service each year. Volunteer board members may be targeted in suits alleging … Continued
Better Knowledge Enhances the Insurance-Purchasing Decision
Better Knowledge Enhances the Insurance-Purchasing Decision What Nonprofits Can Learn from Recent Headlines By Melanie Lockwood Herman and George L. Head, Ph.D.
Ten Tips for Buying Insurance
Ten Tips for Buying Insurance Many nonprofit managers dread the insurance purchasing process. An insurer may demand a lot of information, but then decline to offer a policy. The process may seem to waste valuable time and resources.
Riding Out the Hard Insurance Market
Riding Out the Hard Insurance Market What Your Nonprofit Can Do to Survive and Thrive in Deteriorating Market Conditions By Melanie Lockwood Herman
“Everything’s Fine? We’ve Got Insurance!”
Everything’s Fine? We’ve Got Insurance!” By George L. Head Insurance clearly has its proper, but limited, place in risk financing, which is to pay the truly unpredictable, truly catastrophic loss for which no one can plan or take effective precautions. Relying more on retention for lesser, more predictable and preventable losses, however, leaves your nonprofit … Continued
Is a BOP Right for Me?
Most nonprofit organizations struggle with their insurance program. What policies, coverages, limits and deductibles should we buy? How much will it cost? Are we protecting our assets and people adequately? With incorrect choices, you can be insurance-rich but coverage-poor; therefore, you always want the best coverage for the right premium. Everyone needs property coverage for … Continued
Do You Need a New Broker? Here’s Your Sign!
By Melanie Lockwood Herman This article first appeared in riskVue, the Webzine for risk management professionals, and is reprinted with permission. In 1997 Comedian Bill Engvall released the best-selling comedy album of the year, a work that introduced millions of Americans to the comedian’s favorite punch line: “Here’s Your Sign.” A classic “Here’s Your Sign” … Continued
Abuse Coverage Isn’t as Elusive as a Needle in a Haystack, but It Will Cost You
By Melanie Lockwood Herman Hardening market conditions cause nonprofit risk managers to lose sleep and patience after receiving nonrenewal letters, notices of changes in the terms and conditions of coverage, and word from weary brokers and agents explaining that the same or less coverage purchased in the past may cost more than last year. The … Continued
Love Those Deductibles!
Love Those Deductibles! By George L. Head, PhD, CPCU, ARM, CSP, CLU
Protecting Your Nonprofit and the Board
Protecting Your Nonprofit and the Board New Book on Nonprofit D&O Insurance Suggests Multi-Faceted Strategy The Nonprofit Risk Management Center offers a comprehensive text on insurance for nonprofits,