Congress Must Help In Community Nonprofit Insurance Crisis
May 6, 2020by Eric Beck, John DeFazio, Kurt de Grosz, Jim Johnson, Richard Knudson Jr. and Peter Persuitti
Even before the outbreak of COVID-19, the rising cost of property and casualty insurance in the U.S. had the potential for far-reaching economic consequences. Now, as we cope with a national health emergency, one sector on the frontlines is facing severe impact: 501(c)(3) nonprofits — especially small to midsize organizations.
April 28, 2020By Michael Cohn – thenonprofittimes.com
The novel coronavirus pandemic now spreading across the globe is forcing organizations worldwide to cancel events and conferences, ranging from the NCAA pulling the plug on its March Madness basketball tournament to charities and houses of worship curtailing fundraising dinners and benefits. With important revenue sources suddenly turned off for both nonprofits and for-profit companies alike, and for an unknown length of time, can they count on their insurance carriers to cover their losses and provide some much-needed cash flow? It largely depends on the insurance policy they have arranged.