Risk Management Tools for Non-Profits

Tips for an effective risk management strategy.

Nonprofits offer valuable services to their communities. Even so, their good deeds do not make them immune to the risks of managing a business. The same risks that apply to a nonprofit are not the same as for-profit organizations. In fact, due to the nature and exposure of a nonprofit, they face unique challenges. Therefore, they must secure a reliable risk management strategy. Here are some tools to help you mitigate risk in your nonprofit.

Loss Control Assessments

Risk management means being aware of what risks your nonprofit faces and how to adequately address these risks. It is a continual task that must be faced – Only then can you develop a plan of action. Self-assessment tools and on-site evaluations can help you detail the risk management procedures you may need and what type of nonprofit insurance you might require.

Training and Education

A large portion of risk mitigation relies on the training and education of employees and volunteers. All staff members and volunteers should be alert to risks and hazards, doing their best to prevent them. Whether you train them through in-person presentations, whitepapers, videos, or webcasts, be sure that they are given adequate training.

Safety Plans

Protect your staff, volunteers, and organization by implementing safety plans. From workplace violence and conflict resolution to disaster preparedness and emergency response, ensure you have the right plans in place.

Motor Safety

If your employees or volunteers use your vehicles or their own while on duty with your nonprofit, getting motor vehicle record checks is a must. Provide ample driver safety training and onboard vehicle monitoring to mitigate the risk of auto accidents.

Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298. Make sure that your nonprofit is properly covered. We will work with you to ensure you are getting the most out of your coverage.