Nonprofits Face These Three Critical Risks

Arroyo Insurance Services

Nonprofit organizations provide valuable social services to communities around the nation. Insurance for nonprofits protects the organization from financial loss due to a lawsuit. Help lower overall costs by reducing the effects of these three critical risks.

Volunteers

The industry relies on volunteer staff to run events, help with day-to-day operations and fundraising for the organization. According to Arroyo Insurance Services, organizations try to balance costs with the need to mitigate risks. Take the time to screen volunteers and then train them to help reduce the risks of negligence, injuries, theft, and damage caused by a volunteer.

Reputation

Nonprofits rely heavily on their reputation for doing good in a community. Bad press negatively affects both the volunteers that run the organization and the amount of money the organization can raise. Mitigating risk is essential to keep the organization’s good name and make obtaining money easier to operate.

Fraud

Fraud affects every industry and nonprofits are not left out. A fictitious company may state they are nonprofit, fundraise in your organization’s name and then run with the profits. Not only can this damage the nonprofit’s reputation, but the organization loses out on needed money.

Insurance for nonprofits is one piece of the larger risk management puzzle. Keeping an eye on these critical risks can help the organization thrive.

Comprehensive Risk Management for Trading Companies

iSure Insurance

Too many entrepreneurs underestimate the role of risk management in the successful growth of a business. It’s vital to have the right coverage to protect your company as it establishes itself, but overpaying can limit your cash flow by inflating your bottom line. The key in any industry is finding the right insurer, one who knows your business instead of just one who writes general business policies. In the international trade industry, that means finding an insurer who understands how to cover your operations, your workforce, and your inventory as you acquire, ship, and distribute it.

What Do International Trading Companies Need?

Policies built to suit businesses like yours have a lot of coverage options to balance, in a variety of insurance categories:
Commercial liability
Third-party liability
Ocean cargo insurance
Warehouse insurance
Health insurance and other employee benefits
Workers compensation
Product recall insurance
There are even more categories of coverage needed, but figuring out exactly what they require a full quote that accurately profiles your company. Companies like iSure Insurance hire and train professionals who know your industry, so they have the experience that you’re looking for when you want an accurate insurance quote. While general business insurers will do their best, they don’t tend to have people trained to anticipate the needs of international trading companies.