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Counseling, Health & Therapeutic Services  

Food, housing & emergency; Individual & family social services; Job training & vocational rehabilitation, Non-MD mental health and therapy practitioners; Outpatient mental health & substance abuse treatment; Senior Centers; Social advocacy - human centered; Tutoring & Educational Support; Women and Youth Shelters

When your work is helping improve the lives of others and our overall communities, everyday is different and brings with it new challenges and opportunities.  Services offered by socially focused organizations vary significantly based on the constituents you choose to support and the mission you've set out to accomplish.   as the clients you serve including food banks, transitional housing, rehabilitation services....  You likely depend on donations and grants, dedicated and caring staff as well as volunteers and may even provide work opportunities.  .

 

Combined with donors who may be keen on involvement the ability to attain compensation via flat fees, fees based on AUM or commissions for product sales, the potential for conflicts of interest to arise exist and informed clients look to advisors with a proven track record supported by professional accreditation. 

As a socially minded enterprise that delivers specific products and services to help your clients successfully piece it all together, you should expect the same level of diligence and service from your trusted insurance risk advisor and agency.  As an independent agency focused on serving a few select niches, Distinction Risk is able to focus its time and expertise to spend time with you to understand your vision, your operations and your budget to help identify and effectively plan for and address the insurable risks you f.

Distinction Risk Solutions is focused on serving a broad range of social service operations and related associations (e.g. psychologists), but does not focus on for profit businesses, professional, political or athletic associations. 

Exposures

Beautifully balanced or precariously placed?

While focus is on those you serve, the missions you are out to accomplish and the desire..., when it comes to improving lives through social good the environments (natural and human-made) you operate in are often dramatically different a.  Often times

Liability 

  • Start with GL bodily injury due to operations

  • Bodily injury due to premises upkeep 

  • Fiduciary responsibility

  • Failure to ensure maintenance of client personal information

  • Move to D&O

  • Missed filing...

  • Computer virus or hacking attack of systems results in disclosure of client information

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  • Failure to effectively document reasons for declining an employment applicant or releasing an employee

  • Turning someone away for services

Property 

Can vary widely dependent upon whether you work lease your office(s) or own your building(s).  

  • Wind/hail in the Central US and increasingly more states, flood nearly nationwide, wildfires in the Mountain West and West 

  • Fire loss

  • Loss to electronic equipment (computers, printers, servers) and records from: power failure or surges, malicious attacks on computer hardware and software, loss or irreparable damage while traveling

  • Is your building new, originally built for the services you are providing or is it an older facility or adapted from it's original purpose in order for you to provide your services.  Faulty wiring or overheated equipment could lead to fire losses.

  • Fund misappropriation and theft

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  • Business interruption and inability to deliver services due to 

Personnel 

  • Significant breadth of operations provided by different Social Service organizations can mean you have little exposure to work injury as you are primarily involved in office based work to significant injury when you provide 

  • Despite the low hazard nature of an office environment employees can be impacted by auto accidents while out on client visits or from repetitive motion injuries.  

  • Death or injury to a key employee can mean lost expertise, relationships and an impact to your bottom line

Automobile

  • Employees traveling  in their personal vehicles, rental vehicles or company owned vehicles between office locations, to client visits, for business errands or transporting clients or goods to various places

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Key Liability Coverages

Meant to cover you and your business for loss allegations from and indemnification of third parties (e.g. customers, visitors to your premises, shareholders, competitors, etc.) arising from bodily injury, property damage or financial damage.  While you'll face some normal general liability exposures, as a financial firm in a highly digitized environment your highest severity exposures will likely come from the professional advice, fiduciary responsibilities and services you offer as well as your exposure to Cyber loss.

CGL
Cyber
Management Liability
Financial Professional E&O
CGL
Cyber
Management Liability

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  • General Liability (generally monoline or part of a Commercial Package Policy (CPP)

    • Premises and Ongoing Operations

    • Products and Completed Operations

    • Damage to rented premises

    • Medical payments to others

    • Personal and Advertising Injury 

  • Management/Executive Liability While coverages can be purchased separately, a more encompassing program includes key management liability coverages in one offering, reducing your chances of having unintended gaps, which could leave your organization and you personally open to significant financial consequences.

    • Directors and Officers (D&O) 

    • Employment Practices Liability (EPL) 

    • Fiduciary 

      • Employee Benefits Liability (EBL) 

  • Cyber - While coverage for cyber perils is far from standardized some key liability coverages available are:

    • Data breach mitigation

    • Network security liability

    • Funds transfer fraud

    • Media liability

    • Social engineering

    • PCI, Regulatory proceedings and assessment 

  • Professional Liability/E&O (Errors & Omissions) 

 

Some things to consider:

 

  • Limits of protection relative to your risk profile and the services you provide, the legal climate of your location(s), and the overall cost of insurance relative to your financial resources

  • Defense costs provided within or outside of limits for your liability covers

  • Defense provision basis (right and duty, at carrier option, etc.)

  • Basis of coverage, claims-made vs. occurrence

  • Presence of hammer clauses

  • 1st and 3rd Party coverage for Cyber and/or your EPL coverages

  • Interplay of Side A, B and C limit availability in D&O coverage

  • When purchased as a full Management Liability suite, are limits shared and if so, how

Property Coverages

Focused on indemnifying you for a covered loss to buildings and associated equipment, your business personal property, valuable papers and records, and business income.  It's important to remember you are only made as whole as your coverage is structured for and your causes of loss are applicable to.   Depending on the focus of your services, whether or not your organization owns the facility(ies) you use, you may have fairly straight forward property exposures or may need a more focused assessment, inventory and specific approach to ensure your property is appropriately covered .  

Other Property
Fidelity
Business Income
Business Personal Property
Cyber1stParty
Building

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  • Building

  • Business Personal Property

  • Inland marine

  • Equipment Breakdown

  • Business Income with Extra Expense

  • Crime Coverage

  • Cyber - 1st Party

Some things to consider:

  • Coinsurance requirements

  • Covered causes of loss: Multiple forms exist, ensure you have the right one for your circumstance.

  • Coverage needs for property away from your business location: Dependent upon the types of property you travel with or move from office to 

  • Deductibles 

  • Levels of Business Income coverage:  Are you subject to a defined dollar limit? Are you covered for actual losses sustained on an unlimited basis for one year?   Is utility service disruption an included cause of loss? Are you exposed to cyber loss and dependent on electronics for your core operations?

  • Loss reimbursement basis:  Actual cash value, replacement cost, agreed to value, functional value or other basis determines the level of indemnification you might receive.

Additional Coverages & Protection

Beyond your property and key liability coverages, you may have need for additional coverage, dependent upon: whether or not your firm has the number of employees in a state requiring you to provide workers' compensation coverage, whether you provide vehicles for your team to use in business or have them drive or rent autos on behalf of the business, your desire to obtain higher limits of insurance than can be obtained by your primary liability policies.

 

 

 

 

 

 

 

  • Workers' Compensation

  • Employers Liability

  • Hired and Non-Owned Auto

  • Business Auto

  • Excess/Umbrella

Some things to consider:

  • State requirements for providing Workers' Compensation coverage based on business legal structure and employee counts

  • Even if you are not required by law in your state to provide Workers' Compensation, do you have employee exposures which you could be liable for, creating a coverage gap

  • Required underlying limits to prevent coverage gaps between primary and excess coverages

  • Auto coverage completeness:  If your only auto is a business auto, are you or your employees appropriately covered for driving other vehicles?

WC
Hired and Non-Owned
Excess and Umbrella
Business Auto
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Services

When you have questions, we provide answers and clarity within and from the partnerships we've developed with companies committed to....  Distinction Risk appreciates the difference you and your organizations make daily, the . 

  • The Distinction Way risk profile assessment, coverage analysis and insurable risk mitigation assistance

  • Partner provided services

    • Coverage provided by highly rated carriers with strong  financial standing along with policies specifically crafted by industry experts

    • Access to risk control experts with over  decades of industry experience

    • Access to risk management and loss prevention hotline for professional exposures

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    • 24/7 Cyber hotline and other cyber risk resources available when you buy Cyber coverage

    • Risk evaluation and pricing take into consideration your professional organization associations,  professional credentials (e.g. CFP, ChFC, PFS), approach to business

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Content on this page is for informational purposes only and may not be applicable to all circumstances.