To our customers impacted by recent storms:
We hope you and your family are safe. If you have been affected by one of the recent hurricanes and need to make an insurance claim, please call 1-800-362-7535 or click here to file your claim online.
When social service organizations mention risk management (RM) they are usually only referring to their insurance program. Although insurance is a very important part of protecting your organization, it is only one piece of a healthy RM program. RM should be incorporated into the whole of your business planning.
A healthy RM methodology takes a holistic approach. It is a systematic process to help your organization analyze potential risks and establish processes to protect your organization from harm if they occur. The goal of RM is preventing loss.
Most likely, your social service organization is already engaged in RM. Using fire extinguishers, conducting new staff orientation, performing accident reviews, and practicing preventive maintenance are processes that help limit losses to your programs, staff, and facilities.
RM begins with the mindset “it could happen to us,” instead of thinking “it won’t happen to us” or “our organization isn’t very risky.” Simply stated, RM is a discipline for dealing with uncertainty. It provides strategies and techniques for recognizing and confronting any threat your organization faces in fulfilling its mission.
The Insurance Institute of America offers this five-step process to help you get started. It helps you identify “it could happen to us” concerns and develop strategies to deal with them.
In future issues of this newsletter, we will cover each step in more detail, highlight some of the more prevalent risk exposures for social service organizations, and offer steps for your organization to better protect itself.
The information provided in this article is intended for general informational purposes only and should not be considered as all encompassing, or suitable for all situations, conditions, and environments. Please contact us or your attorney if you have any questions.