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As Social-Service Groups Look for Alternative Revenue Streams, Insurance Risks Grow

With a still-shaky economy limiting donations to social-service organizations, many of these groups are radically reducing spending or branching out into new and untested revenue-raising watersa move that can pose unexpected and even catastrophic risks.

By Bonnie Cavanaugh, E&S Editor | Updated on August 11, 2011

With a still-shaky economy limiting donations to social-service organizations, many of these groups are radically reducing spending or branching out into new and untested revenue-raising waters—a move that can pose unexpected and even catastrophic risks.

Philadelphia Insurance Cos. is one of the largest carriers in this specialty-insurance line, with 46 offices in 13 regions writing more than $750 million of “human services” premium per year. And many of its more than 26,000 social-services clients are feeling increased pressure “to significantly cut costs” and “find alternative sources of revenue,” says Paul Siragusa, vice president, Commercial Lines Underwriting.

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