You are here

The Nonprofit Insurance Crisis: What You Need to Know and What You Can Do

June 23rd 2021 12:00 PM - 1:00 PM
Webinar

2020 was a year like no other. While nonprofits struggled to keep their doors open due to the pandemic,  the hard insurance market left many nonprofits desperate to find and obtain affordable insurance  coverage.  

The Wall Street Journal wrote about the steady rising cost of insurance for U.S. businesses, highlighting  The Children’s Shelter in San Antonio, noting that their coverage premium went from $176,000 to an  astonishing $750,000. In the same month, the Insurance Journal outlined how carriers are getting out of  certain markets in the nonprofit sector—including those who serve children and adults. Articles have  continued to be written about this crisis in Law 360, Insurance Business America, Captive.com and  Leaders Edge

In August 2020, 300 brokers in the U.S. were polled by the Nonprofits Insurance Alliance (NIA) about the  insurance market for nonprofit businesses and their responses were alarming on the difficulty of  insuring programs and services like foster care, homeless shelters, residential treatment centers, and  more (see table below). 

(Source: 2020 State of the Market for Nonprofit Insurance published by the Nonprofits Insurance Alliance  Sept. 3, 2020.) 

With no end to this hard market in sight, nonprofits need to know how to navigate this crisis. In this  webinar, learn about the factors driving the nonprofit insurance crisis, resulting in non-renewals of  overall insurance programs or certain lines of coverage within their insurance program, or renewals only  with steep increases in cost and/or a reduction in coverage. Such factors include: 

• The abuse crisis and the increased public attention surrounding it 

• State legislation extending the civil statute of limitations for abuse claims

• Catastrophic weather events 

• Changing carrier appetite 

Get insider tips and recommendations for navigating your upcoming insurance renewal. Additionally,  understand risk management best practices that can position your agency for the best possible renewal  outcomes. Learn about alternative options such as captive insurance groups and risk retention groups,  which offer access to liability insurance when the market is in flux. 

Takeaways 

• The driving factors behind the current market conditions impacting the nonprofit sector • How to position your organization for the best possible renewal outcome 

• Risk management best practices overview 

• How to determine if an alternative solution like a risk retention group is right for your  organization 

• How to get involved in advocacy opportunities 

Who Should Attend 

• Chief Executives 

• CFOs 

• COOs 

• Person who handles insurance/risk management

 

 

Price: Free

Event Description
Presenters

Julie Bernhard is the Director of Lead Management & Referrals for Nonprofits Insurance Alliance (NIA).  NIA is a group of 501(c)(3) nonprofit organizations that provide a stable source of reasonably priced  liability insurance coverages to more than 22,000 other nonprofits in 32 states and the District of  Columbia.  



For over 18 years, Julie has worked with nonprofits to educate and empower them in navigating the  nonprofit insurance marketplace. She has also built a nationwide network of broker relationships that  are equally invested in supporting the nonprofit sector. Julie is passionate about the partnership  collaborations she has developed, and is always looking for new outreach opportunities to share  information that will benefit nonprofits. She received her Master’s in Social Work in 2009 and is a  licensed Insurance Broker. Julie is also the Webinar Manager for Blue Avocado, a free online magazine  offering practical & provocative food for thought for nonprofits, which is published by NIA.



 





Rhonda Murray is a non-profit-focused licensed insurance broker for HUB International Ltd, the world’s 4th largest insurance company. 

After falling into insurance unintentionally over 17 years ago, Rhonda has 
developed a love for the field and has poured her work into providing quality service, honing her expertise in many areas including commercial, personal, life, and health indemnity. Her work with non-profits has become her ‘bread and butter’ and she continually seeks to protect, educate and support her clients in all their endeavors.

Event Custom Fields
Training Medium Online
Event Region Nationwide

Help spread the word

Let your friends, colleagues and followers know about this: The Nonprofit Insurance Crisis: What You Need to Know and What You Can Do