Webinar
Original air date - September 30 at noon CT
In February, even before the COVID-19 pandemic reached crisis levels, The Wall Street Journal wrote about the steady rising cost of insurance for U.S. businesses, highlighting Alliance member, 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.
In August, 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).
In February, even before the COVID-19 pandemic reached crisis levels, The Wall Street Journal wrote about the steady rising cost of insurance for U.S. businesses, highlighting Alliance member, 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.
In August, 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.)
But information is power. 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.
Learning Objectives:
- 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
Presenter(s)
Julie Bernhard
Director of Lead Management & Referrals
Nonprofits Insurance Alliance
Julie Bernhard is the director of lead management & referrals for Nonprofits Insurance Alliance (NIA). NIA includes the Alliance of Nonprofits for Insurance, RRG (ANI), and Nonprofits Insurance Alliance of California (NIAC). They are 501(c)(3) nonprofit organizations that provide a stable source of reasonably priced liability insurance coverages to more than 20,000 other nonprofits in 32 states and the District of Columbia. Bernhard has a master’s in social work and is a licensed California insurance broker.
Erica J. Ford
Vice President of Commercial Insurance & Risk Management
Brown & Brown of Lehigh Valley
Erica Ford joined the Brown & Brown team in 2014 with almost 20 years of property/casualty insurance industry experience. She has worked on both the carrier and broker sides of the insurance business in various capacities from claims handling to account management. While her multifaceted background gives her a broad perspective, Ford has a distinct focus and specialization in the senior living and health and human service sectors.
Ford is an active member of the Ohio Council of Behavioral Health & Family Service Providers, Alliance for Strong Families and Communities, and the Pennsylvania Health Care Association (PHCA). In 2019, Ford was elected to the PHCA Board of Directors. She works closely with these associations and aims to be a resource and advocate for their members as well as all organizations in this sector and the people they serve.
Clients say Ford is a tremendous resource and trusted member of their team. Not only does she consistently negotiate competitive pricing, but her experience and background in proactive risk analysis provides an essential voice in liability management. Ford holds her Certified Insurance Counselor (CIC) designation and is working on completing her Certified Risk Manager (CRM) designation.