Does Your Organization Have a Robbery Prevention Strategy?
By Rebecca Gomez. Crime is a continuous problem for many organizations. Several studies have proven the direct correlation between available cash and likelihood of a robbery. The best strategy an organization can have to prevent robbery is limit the amount of cash available. This strategy will not only reduce the likelihood of a robbery but […]
Can Water Damage Be Covered?
According to Nonprofits Insurance Alliance of California (NIAC), the most common uncovered property claim they receive is water damage. Property claims are generallydeclined because of poorly maintained premises. Water damage is typically excluded from property policies with the exception that a covered cause of loss occurs first, such as wind or fire. Water damage claims can […]
Cyber Threats: Be Prepared.
As hackers and cyber thieves are becoming more technology literate, the scale and sophistication of cyber-attacks are increasing. In San Francisco, for example, the San Francisco Municipal Transportation Agency (SFMTA) became victim of a ransomware attack. A user (in SFMTA case an employee) unknowingly downloaded the malware on their computer which then was seized by […]
Workers’ Compensation and the Experience Rating Modification (“X-Mod”)
Experience rating, authorized under the State Insurance Code, is a statistical procedure, which tailors premiums of qualifying employers to fittheir organization’s loss (claims) experience. How Does the System Work? If your company’s premium is large enough to meet the system’s eligibility requirements, it is assigned an annual experience modification. Eighty percent of the state’s workers […]
Back to Basics: Directors & Officers Liability and Employment Practice Liability Risk Management Tips
Directors and Officers Liability Insurance, also known as D&O, covers individuals who serve on the boards of nonprofit organizations. Individualswho serve in such areas can be held legally liable for activities that arise from the activities of the organization or the financial claims which result from their decisions. Generally, board members are responsible for the […]