The current economic environment has placed more than its fair share of burden upon not-for-profit organizations trying to provide continuing cultural benefits, social services or financial assistance to the general community in which they operate. To make matters worse, the insurance industry is seeking ways to increase profits by raising premiums while imposing coverage limitations such as terrorism and mold. Meanwhile our increasingly litigious society creates an environment where the recipients of your services have higher expectations of performance or assistance. Failure to deliver as expected can quite often result in claims for physical, mental or financial injury. Uninsured or underinsured losses to your property will have a larger impact than ever since funds to replace the property may have to be taken from the operational budget. Our not-for-profit practice group is aware of the pressures on our clients in this area and can help you through these times.
Our experience and extensive database serves to keep us aware of your industry benchmarks as well as various market and cost alternatives. We strive to provide these benefits to our clients, keeping in mind the need to control consulting costs. Some examples of how we assist our non-profit clients include:
- Identifying and closing the coverage gap in uninsured professional liability risk exposures.
- Making presentations to boards of directors to explain risk and insurance needs and optional remedies.
- Providing more standard business practices direction in the evaluation of risk and the purchase of insurance.