Looking for a way to ramp up the risk management program in your nonprofit organization without making a huge investment? Here are five simple risk management resolutions to follow for the new year:
1) Be strategic – consider all the dimensions of risk, without becoming tied up in its more common problems as unexpected events or situations can be both favorable or unfavorable.
2) Establish a risk management to do list – a short list of practical action items for the current calendar year may be used as a starting point or it may inspire the identification of other doable steps, such as scheduling regular safety briefings for volunteers prior to all upcoming special events.
3) Re-connect with your insurance advisor – if you’re not receiving the prompt, professional and thorough advice your nonprofit needs and deserves, request a meeting with your advisor to discuss your expectations and plans for the immediate and long-term future.
4) Draft a contingency plan – develop a contingency plan in order to address the question “what would I do in a variety of extreme (both favorable and unfavorable) situations?” This may lead directly and inevitably to the creation of a comprehensive risk management plan.
5) Ask and you shall receive – take a few minutes to visit the loss prevention or risk management resources available on your nonprofit’s insurance carriers websites and make sure you are taking advantage of all the resources available to you.