New Year, New List: Establish a Risk Management To Do List

By Melanie Lockwood Herman

It’s a new year, and here at the Center we’ve got a whole year’s worth of tips and trainings for you. Our web site currently features a new issue of Risk Management Essentials kicked off with an article by Melanie Herman, Executive Director of the Center, that is designed to help you focus on practical, affordable, do-able steps you can take NOW to prepare your staff and organization for the challenges ahead in the coming year. Check out the new issue, featured on the first page of our Web site, as well as the topics covered in our monthly Webinars and remember that the Center and answers to your risk management questions are just a phone call away!

Excerpted article from Risk Management Essentials:

Rather than getting bogged down in an impossible list of risk management ‘to dos’ for 2008, consider creating a short list of practical action items for the current calendar year. This short list of resolutions may be a starting point, or it may inspire the identification of other doable steps, such as scheduling regular safety briefings for volunteers prior to all upcoming special events. Remember to include on your list the commitment to take advantage of free and affordable resources that were designed to help you better understand and cope with risk in your nonprofit. NRMC’s Web site, is a great place to start. Another item you might want to put on your list is the creation of a concise summary of your insurance program. At NRMC we call this invaluable summary a “Schedule of Insurance.” The schedule, often created in a spreadsheet program such as Excel, ideally includes the following information: policy type, policy period, policy #, carrier, deductible/retention, annual premium and special policy conditions or exclusions. If creating the summary feels daunting, ask your agent or broker to prepare a schedule for you. Remind them to include a notation about any policies they have recommended but have not been purchased.

Melanie Lockwood Herman is the Executive Director of the Nonprofit Risk Management Center. She welcomes questions and concerns at Melanie@nonprofitrisk.org or 703.777.3504.