Friday, November 26, 2010

Are you asking the right questions?

To brutally paraphrase Mark Twain, its better to have people think your dumb, than to speak and remove all doubt. While this altruism is somewhat accurate, it does have its flaws.

Our reluctance to ask specific questions regarding insurance particularily for non-profits can often times mean the difference between truly understanding insurance issues and just "thinking" you understand. The former can result in a great relationship with your broker, the latter can and does often result in coverage issues. Assuming you know everything about insurance may put both yourself and your Non-Profit in a compromising position. The answer - ASK THE RIGHT QUESTIONS.

Funny enough, the right question cannot be defined. The right question, quite simply, is the question that you don't know the answer to. What is the definition of "x". What is excluded under the policy? These are two questions that Non-Profit leaders often think they know the answer to, but do not. The truth of the matter is, that not even your insurance broker knows ALL of the answers to ALL of your questions. His or ver value is their ability to seek out and find the right answers so you can get back to doing what you do best - serving your constituents.

Tuesday, November 23, 2010

Not For Profit doesn't mean Not at Risk....

Why aren't the most succeptible groups in our country -  those small community organizations whose charitable endeavours help build the fabric of our communities, given special consideration under the law? Should everyone be created equally? The truth is we aren't. Despite how good and well intentioned we all are, the bottom line is that contracts govern our society.

Have you ever tried to set up a display booth in a mall these days? You have to give away your first born to set up a spot. Not only that, you have to have at least $2mm in liability? That ain't cheap!!! As a  small non-profit how do you get the word out to the community without going broke to do so. Its a HUGE Catch 22.

The truth is, contracts, both between your non-profit and the property manager and the property manager and the landlord are the single most important barrier between your organization and your next member.

That ain't right.