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House of Worship Case Study

At Sovereign Insurance Group, we have experience dealing with all different sizes of religious institutions.  On any given day our professionals might be helping a small start-up find affordable coverage that meets their lease requirements to working with "mega-churches" with high property values, complex schedules, and unique liability exposures.  This institution in particular is one of the largest religious institutions on the East Coast. Their operations include over 20,000 members, unique ministry exposures, six meeting locations, and over $100 million of property values to protect.  Due to their size and scope, finding a broker and carrier partnership that understood their unique risks was of paramount importance.

17%

Original Cost Savings

$20M

Increase in Professional Coverage

Problems Identified
  • Claims-Made Sexual Abuse: placed organization in a challenging position due to lack of carrier willingness to provide claims-made tail coverage
  • Unique Risk Exposure: client had high risk exposure uncovered by prior insurance program.  Risk to assets and reputation for uncovered claim was significant.
  • Cyber Liability Exposure: media liability was provided, but no coverage for cyber liability was provided which resulted in inefficient use of premium dollars.
  • Risk Management: significant losses for Workers Compensation claims necessitated looking at risk management policies and procedures to reduce frequency and severity.
Solutions Provided
  • Occurrence Form Sexual Abuse Coverage: was able to facilitate move to Occurrence form with purchase of tail coverage which placed the institution in more advantageous long-term position and flexibility.
  • Special Risk Policy: provided liability coverage for unique risk exposure for an affordable cost.
  • Cyber & Media Liability: replaced outdated Media Policy with Cyber Policy that included media liability.
  • Loss Control: conduct annual loss control inspections to discover areas of need.