Giving Tuesday Is Here! What Will You Give?

 

Giving Tuesday

GivingTuesday is a global generosity movement unleashing the power of people and organizations to transform their communities and the world on December 3, 2019 and every day.

One of the best ways to give is to get involved is in your own community. We have supplied a link to a directory to help you find organizations, events, and ways to give back in your own community.

Thank you for giving! 

Extended Reporting Periods – When Does It Apply To Your Nonprofit?

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Every nonprofit has a life-cycle; some can be very long and last for many years, while others can be quite short in comparison.  Nonprofits shut down for a variety of different reasons.  One agency might dissolve due to a change in the market, another due to changing policies or guidelines, like we are experiencing with the new Department of State regulations.  Some agencies merge with other firms to combine assets and/or save on accreditation costs, like we saw happen in 2008 when The Hague was ratified.  Some directors may retire or are unable to continue providing services altogether due to the outright exhaustion or stress that directing a non-profit can cause, what some people refer to as the “burn out” factor.

When a nonprofit chooses to close its doors, it may require a special coverage that could add an additional unforeseen insurance cost. This is especially true for the nonprofit that offers specialized professional services like adoption, therapeutic foster care, mental or behavioral health, or skilled medical care.  Professional services are insured under a specific type of coverage form called a claims-made policy and it responds differently to a claim then the traditional, better known and understood occurrence policy. Learn more

Cyber Liability Insurance Coverage. Is It For You?

Security concept: blue opened padlock on digital backgroundMost, if not all, Human Service Organizations depend on computers to cache or store their sensitive information, and by doing so are exposing themselves to network security breaches. The majority of organizations do not realize that computer breaches are only some of the ways one can acquire unauthorized access to personally identifiable information.

There are many possible scenarios that Human Service Organizations could experience, which could result in a Cyber Liability/Identity Theft claim. One, of which, is if a non-profit agency receives donations on line. A skilled hacker can then very easily and diligently infiltrate the agency’s network security and gain access to credit card information. Another possible scenario is, if an employee loses a USB containing private information. Even if a worker misplaced his or her laptop which contained names, addresses, and social security numbers of all their clients, that would certainly be an example of a possible claim under Cyber Liability Coverage.

If an organization obtains private information, including social security & driver license numbers from clients & employees, and store this sensitive information online, and rely on a computer network, they bear a crucial exposure to cyber risk. The greater majority of non-profit and social service organizations are unaware their standard insurance coverage generally does not provide appropriate coverage for cyber liability.

A Cyber Liability Policy can provide extensive coverage for damages to third parties caused by a network security breach, loss resulting from an authorized user’s accident, notification expenses, and many more. Your organization can be all but shut down following a hack attack. Though, stolen intellectual property with the cost of customer trust could certainly wipe out any business.

Here at Hawley & Associates we do offer Cyber Liability insurance coverage. Many of our customers including Adoption Agencies, Foster Care Agencies, Social Services Agencies, Human and Child Welfare Agencies, Educational Institutes, Emergency Shelters, Group Homes, Residential Treatment Facilities, and Global Human Services, take advantage of this specialized coverage to protect their organization from any cyber security breaches and risks.