According to The Insurance Journal, dated December 4th, 2019, fifteen states have revised their laws in the past two years extending or suspending statute of limitations to allow child sex abuse claims stretching back decades, unleashing potentially thousands of new lawsuits against the U.S. Roman Catholic Church.
Click here for the full story.
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!
All of us at Hawley & Associates would like to wish everyone a Happy Thanksgiving!
Our Holiday Hour Are As Follows:
Wednesday, November 27th, 2019 – Closing at 2 pm (PST)
Thursday, November 28th, 2019 – Closed
The terms Agent and Broker are sometimes used in the same context, but in reality, they are quite different. Both do act as a liaison between the insured and the insurance company, but the main difference is who they represent.
An insurance agent works for the insurance company. They can represent one or more insurance companies and acts as an extension of those companies. They are authorized to bind or initiate coverage on behalf of the insured.
There are two types agents: Captive and Independent. A Captive agent sells insurance for one specific insurance company. An Independent agent sells insurance for multiple insurance companies. In essence, they do the ‘shopping’ for you.
An insurance broker works for their clients. They are an advocate and work in the best interest of their client, not the insurance company.
There are typically two types of brokers: Generalists and Specialists. Generalists do not restrict themselves to certain industries or lines of business and sometimes consider themselves as a “one stop shop”. They can insure gas stations, restaurants and even nonprofits. With their book of business being so broad, it may be difficult for them to have the necessary knowledge and expertise into a particular industry or business, especially ones that are complex or have high risk factors.
A specialty broker does just that; they specialize or have a niche in a particular line of business or industry. They have access to a variety of markets, comparing multiple programs side by side. They generally have stronger relationships with underwriters and have a unique ability to negotiate for better terms and premiums. They will also have a better understanding of the exposures and various risks associated with a particular industry or business and can better recommend the specialized insurance solutions needed.
In a world where lawsuits seem to be commonplace, it is more important than ever to have the appropriate commercial insurance coverage in place. Every nonprofit is unique and there is no ‘magic’ online button, or a one-size fits all insurance program for your nonprofit.
If your agency offers advice or provides professional services, it is imperative to carry Professional Liability Insurance (also known as Errors & Omissions or E&O). If your organization is sued for negligence for errors and/or omissions while performing your professional services, your professional liability policy can help cover settlements and judgement expenses and attorney fees up to your policy limits.
Professional Liability vs. Directors & Officers Insurance:
There is a common misconception that a Directors and Officers (D&O) policy may be all you need. These two types of coverage may seem similar on the outside, but the main difference is who is covered.
Your D&O policy provides insurance brought on by a ‘breach of duty’ or wrongful act allegations and lawsuits arising out of the managerial decisions of board member(s), officers, employees and sometimes volunteers. Professional Liability insurance provides insurance for claims arising from errors and/or omissions made against the organization.
About Hawley & Associates
Hawley & Associates is solely in existence to provide specialized insurance solutions for social service and nonprofit organizations across the country and the world.
Our mission is to empower your mission by providing the most comprehensive and cost-effective insurance program and tailored risk management solutions that perfectly align with your unique operations and exposures. Less time and money spent on insurance means more of both to dedicate to the children, families and communities in which you serve.
We strongly believe in the industry we serve, and to us it’s much more than insurance – it’s about relationships. We are an extension of your organization and an unwavering champion in supporting the great work that you do.
As of April 22nd, 2019, Arizona became the 48th state to ban texting while driving. According to a study by the National Highway Transportation Safety Administration (NHTSA), 3,450 people were killed in distracted driving-related vehicle accidents in 2016, meaning 9% of all the fatal crashes this year involved distracted driving; and 14% of these crashes involved a fatality.
What is distracted driving?
Distracted driving is anything that diverts your attention away from driving. A few examples are:
- Eating or drinking
- Talking or texting on a cellphone
- Fiddling with a stereo, navigation or entertainment system
- Talking with someone in the vehicle
- Putting on make-up
- Grabbing something off the floor or backseat
The same study found that texting and driving is six times more dangerous than driving intoxicated. Sending or reading a text takes your eyes off the road for 5 seconds. At 55 mph, that’s like driving the length of an entire football field with your eyes closed.
What can we do?
Parents: Lead by example; talk with children about distracted driving and the consequences; sign a family pledge not to drive distracted.
Teens: Speak up when they see a friend or peer driving distracted; have friends sign a pledge; share message on social media.
Educators: Remind students about the dangers of distracted driving. Post posters and hand out materials relating to distracted driving.
Employers: Institute a company policy restricting texting, eating or any other form of distracted driving while operating company vehicles or while using their own vehicle for company business.
According to Proofpoint’s newest Quarterly Threat Report, Q4 2018, the threat of Ransomware did decline at the end of 2018, but has opened the door for out-right cyber extortion.
Extortion is an age-old crime that has found its way into the cyber world. This threat continues to gain traction as a multi-million-dollar criminal industry. The newest trend is in the form of “sextortion,” in which a cyber-criminal threatens to reveal compromising information (i.e. photos, videos or visits to questionable websites) if the victim does not pay a fee. They may even claim to have “evidence” of compromising activities. These emails generally do not contain malware or a malicious link and rely solely on fear, emotion and the human factor to trick victims into paying.
As the threat of cyber extortion continues to grow, staying one step ahead is your best recourse in combating this ever-increasing threat. Addressing your organizations’ vulnerabilities, developing appropriate policies and procedures, using up-to-date technology to secure your networks and securing the right insurance coverage are integral parts in your risk management arsenal.
For more information on cyber insurance, and how it can help protect your organization, please contact Hawley & Associates at www.hawleyandassociates.com.
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
Check out the first Hawley & Associates newsletter of 2018! Happy Spring to everyone!
Hawley & Associates strongly believes in giving back to the community. We encourage the support of local businesses and services operating in the areas that we all live and work. But, when it comes to your insurance broker, you may need to think beyond your hometown borders.
Did you know that having a local broker may actually be a detriment to your organization, not a benefit? A local broker may not have the necessary knowledge of important state/federal statutes, coverage limitations, a strong relationship with key carriers and access to specialty markets.
Hawley & Associates provides specialized insurance products and services for nonprofits, human service and social service organizations all across the country. Our expertise gives us a broader view and understanding of the insurance industry and how it affects your organization. It is our job to stay current on all changes in your industry and to keep your organization and mission protected.