Author: Peter Persuitti
The nonprofit sector provides a broad spectrum of services and will always be held to the highest standards of care by the public. Despite the fact that the majority of good stories relating to nonprofits end newscasts and make us feel good, the daily headlines of scandal and abuse of power continue to poison the well.
The nonprofit sector is also not immune to the overall insurance industry's challenge with large verdicts, plaintiff litigation mania and fortuitous property losses.
So while overall we are beginning to hear of some rate stabilization and even decreases after four years of rising rates, few insurance carriers underwriting nonprofits see stabilization in the near future. They are still requiring rate increases, reflecting a volatile landscape. At Gallagher we are poised to confront these headwinds with deep analytics and proactive advocacy.