Increase your Insurance Buying IQ

Increase your Insurance Buying IQ

The Center is pleased to present Coverage, Claims & Consequences—2nd Edition, a text that takes the mystery out of the process of obtaining insurance for your nonprofit. The second edition of this popular text is now available, hot off the press, and may be purchased from the Center’s on-line bookstore. A companion PDF version with hyperlinks to source and reference material is available at no additional charge to all buyers of the book.

For experienced risk managers and insurance program managers, Coverage, Claims & Consequences—2nd Edition will serve as a helpful reference. This book also will help round out your knowledge of various coverages and approaches to insuring nonprofit risks. The following topics are covered:

  • Chapter 1, Risk Management and Insurance, offers a brief introduction to risk management and the role insurance plays in a risk management program.
  • Chapter 2, The Insurance Industry, explains how the insurance industry works. This chapter explores the various players—insurance companies, agents, brokers, consultants, risk managers and regulatory departments.
  • Chapter 3, Managing Your Insurance Program, provides a suggested approach to handling your organization’s insurance program. This chapter offers suggestions for the assignment of the duties and responsibilities for the insurance program manager and establishing risk-financing goals and objectives for your nonprofit’s risk management program.
  • Chapter 4, Purchasing Insurance for Your Nonprofit, explains the process of purchasing coverage for your organization. The chapter discusses how to select an insurance agent or broker, the use of insurance or risk management consultants, and the preparation of insurance specifications or a request for proposal.
  • Chapter 5, Understanding Your Insurance Coverage, offers insight into how to read an insurance policy without breaking into a rash. The chapter concludes with a discussion of different categories of insurance.
  • Chapter 6, Liability Insurance, identifies and discusses the most common liability policies purchased by nonprofit organizations.
  • Chapter 7, Property Insurance, explains and examines the property coverages that many nonprofits require.
  • Chapter 8, Miscellaneous Policies, discusses a number of policies that have liability and property components, including: the business auto policy, international coverage, accident medical reimbursement, and personal liability policies.
  • Chapter 9, Health, Life and Disability Insurance, discusses various forms of health, life and disability insurance.

The Glossary provides a list of key insurance and other risk management terms. This Glossary can also be found on the Web.

The final section, Resources, provides a list of organizations and literature that may be helpful to a nonprofit in managing its insurance program.