How brokers can help clients with the ‘new reality’
Non-profits with large insurance policies have become increasingly vulnerable to class action lawsuits over the past decade. The shift has been closely tied to the phenomenon of social inflation, or the rising costs of insurance claims due to social and legal trends.
The new reality has forced insurers to reassess their approach to non-profit coverage. Carriers have started advising non-profits to tailor their coverage more closely to their actual risk profile.
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