Non Profit Case Study
This non profit organization exists to provide health, social, and support services in an urban environment. Their programs consist of child care centers, job placement services, senior living, emergency shelters, and long-term housing arrangements. Due to their exposures and loss history they were placed with a non-admitted carrier on a key line of business and with the assigned risk plan for Workers Compensation. Their previous broker informed them that there were simply no other solutions for their risk profile.
Our audit of their losses uncovered problem areas and trends that needed addressed. We worked with the client to identify the issues and developed an action plan for future success. Despite the challenges, our team ultimately partnered this client with carriers who understood their risks, provided the right coverage, and reduced their overall costs.
Increase in Blanket Property Limit
- Claims-Made Sexual Abuse: they had a program with a claims-made sexual abuse date going back 20+ years.
- Medical Malpractice Coverage: our Coverage & Needs Analysis discovered that this exposure was not properly addressed
- Fiduciary Liability: no coverage was included
- Separate Policies for Different Programs: over the years, the non profit started several separate 501c3 organizations. Creating efficiency by "bundling" the programs under one "master" policy was an opportunity.
- Non-Admitted Carrier: the client was not pleased with the reputation of their carrier and was interested in possible alternatives.
- Admitted Carrier: identified a market leading carrier anxious to provide the coverage needed.
- Sexual Abuse: matched prior retroactive date with no loss in coverage
- Rate Agreement: despite an increasing insurance market, our team negotiated a 2 year rate agreement with the carrier.
- Fiduciary Liability: new program included
- Group Policies: provided a grouping of the policies to broaden coverage and simplify administration
- Medical Malpractice: provided the coverage within the cost of the program