“Nonprofits are not immune to risk; in fact, they face unique risks as a result of being a nonprofit,” says Baker. (Photo: Shutterstock)
Nonprofits share many of the same risks as for-profit organizations; however, their core missions expose them to a wide variety of unique risks, from volunteer projects to fundraising events. Should an incident happen, such as a cyberattack or lawsuit, a nonprofit’s mission could be at risk, jeopardizing the positive impact charitable organizations bring to individuals and communities around the world.
In celebration of National Nonprofit Day on August 17, NU PC360 spoke with Patrick Baker, nonprofit D&O product manager at Travelers, about the ways nonprofits can evaluate their risk management strategy, safeguard their mission and insure their distinctive risks.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
