Although mission trips can be valuable experiences, there are potential challenges and risks involved that church leaders need to be prepared for. Consider the following recommendations to make your trips safer.
The first step is to get a committee together to evaluate opportunities and begin planning the trip. There are many details to keep in mind when traveling with a group, particularly overseas. Therefore, it is helpful for your organization to have written guidelines that church leaders can follow. The more time spent planning, the less chance there will be of avoidable issues. Click here to download a mission trip checklist.
Additionally, it’s imperative that all participants get a physical exam at least six weeks before departure. This may include immunizations or vaccinations depending on where you’re traveling to. If any volunteers take prescription medication, they should ensure they have enough to last the entirety of the trip. Prior to departure, each volunteer should sign a consent and release form, click here to download free templates of the domestic and international travel consent and release form templates.
Traveling to an unfamiliar location always comes with risks. When selecting a destination, it is important to do your research. Consider health risks, cultural norms, economic and political dangers, immunizations, and laws and customs. If traveling abroad, find the location of the U.S. Embassy, and speak to a representative about safety concerns. In addition, check the State Department Travel Advisories, which provide information on terrorism, crime, civil unrest, health, natural disasters, and more.
Another factor to consider is mode of transportation. All drivers must have a current drivers license and clean motor vehicle record. Overseas, license requirements, driving rules and customs may vary, so research must be done ahead of time. Additionally, you must decide what type of vehicle will be utilized; personal vehicles, a church owned van, a mini-bus, or a coach bus? If driving for an extended period of time, ensure the driver has time to rest or have another driver takeover. When taking a flight, book non-stop if possible.
Have a solid emergency plan in place. Designate a point person who is not on the trip who can be contacted in the case of an emergency. This person will communicate between the church, the volunteers, and their family members. Make sure you’re prepared for natural disasters, security or terrorism, medical emergencies, missing participants, etc. Each volunteer should create an emergency ID kit incase their passport is lost or stolen during travel. To do this, gather a photocopy of the data page of your passport, two recent passport photos, and the U.S. embassy information in a safe location.
Consider purchasing short-term travel insurance to cover your mission team during trips, since many domestic insurance coverages do not apply in foreign countries. This will ensure you have proper coverage from any potential accidents, medical emergencies, and other events that may occur.
To view our complete risk management library of articles for churches and non-profits, click here.
When cyber attacks like data breaches and hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Cyber liability insurance policies are tailored to meet your company’s specific needs and can offer a number of important benefits, including the following:
Data breach coverage. In the event of a breach, organizations are required by law to notify affected parties. This can add to overall data breach costs, particularly as they relate to security fixes, identity theft protection for those impacted by the breach and protection from possible legal action. Cyber liability policies include coverage for those exposures, thus safeguarding your data from cyber criminals.
Business interruption loss reimbursement. A cyber attack can lead to an IT failure that disrupts business operations, costing your organization both time and money. Cyber liability policies may cover your loss of income during these interruptions. What’s more, increased costs to your business operations in the aftermath of a cyber attack may also be covered.
Cyber extortion defense. Ransomware and similar malicious software are designed to steal and withhold key data from organizations until a steep fee is paid. As these types of attacks increase in frequency and severity, it’s critical that organizations seek cyber liability insurance, which can help recoup loses related to cyber extortion.
Forensic Support. Following a cyber attack, your organization will have to investigate to determine the extent of the breach and what led to it. The right policy can reimburse the insured for costs related to forensics and seeking out expert advice. Additionally, some policies can provide 24/7 support from cyber specialists, which is especially useful following a hack or data breach.
Legal Support. In the wake of a cyber incident, businesses often seek legal assistance. The assistance can be costly. Cyber liability insurance can help businesses afford proper legal work following a cyber attack.
Coverage beyond a general liability policy. General liability policies don’t always protect organizations from losses related to data breaches. What’s more, data is generally worth far more than physical assets, and it’s important to have the right protection in place when you need it most. Supplementing your insurance with cyber coverage can provide you with peace of mind that, in event of an attack, your organization’s financial and reputational well-being is protected.
Gulfshore Insurance is a Naples, Florida based insurance agency specializing in business insurance including liability insurance, property insurance, workers compensation insurance, vehicle insurance, business income interruption insurance, cyber insurance, commercial umbrella insurance, and more. Our insurance and risk management advisors are industry specialists for condominium associations, golf and country clubs, oil and petroleum marketers, construction, landscaping, churches and non-profits, and work comp. Navigating insurance requires an experienced and trusted insurance agent who understands your business risks and exposures. Gulfshore Insurance services Naples, North Naples, Marco Island, Bonita Springs, Fort Myers, Sarasota, Lido Beach, Longboat Key, Bradenton Beach, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.
Ransomware represented the number one cause of loss in a study of almost 6,000 cyber insurance claims, with the average ransom rising to $247,000 and the average incident cost up to $352,000 in 2020.
NetDiligence’s 11th annual cyber claims study evaluated 5,797 claims arising from incidents between 2016 and 2020. Across the five years of claims data, ransomware accounted for 32% of all incidents affecting small to medium enterprises (SMEs). Hacking incidents were a distant second at 10%, and business email compromise followed at 9%.
The study revealed that ransomware events accounted for 79% of claims with a business interruption (BI) expense, with an average BI cost of $446,000 in 2020 and an average BI cost of $316,000 over the five-year period. Ransomware events also caused 81% of claims involving recovery expense losses, according to the data.
Professional services firms were found to have the highest frequency loss over the last five years, followed by manufacturing, health care, technology, retail and financial services. The top five sectors account for 70% of claims and 74% of total incident costs. Professional services firms also contributed 32% ($229 million) of overall incident costs; this number is well above health care, which was 11%.
Claims costs range from less than $1,000 to over $120 million. Nearly all (99%) came from SMEs for a total of $537 million in losses, and the losses associated with the 1% of claims striking large businesses reached $727 million.
The averages include “some very expensive claims,” the authors of the report noted. For SMEs, six claims in the sample reached over $5 million, with one costing over $100 million. For larger companies, 10 claims featured costs between $15 million and $100 million. NetDiligence said it found no link between business size and the magnitude of a L cyber loss, with the largest event affecting an SME.
“With ransomware again the number one cause of loss, we will be watching closely to see whether cyber policyholders, especially SMEs, deploy sufficient cybersecurity safeguards to reduce their ransomware exposure and qualify for ransomware coverage. If not, the challenge will be how we, as an industry, can help them get there,” said Mark Greisiger, NetDiligence president, in a statement.
Gulfshore Insurance is a Naples, Florida based insurance agency specializing in business insurance including liability insurance, property insurance, workers compensation insurance, vehicle insurance, business income interruption insurance, cyber insurance, commercial umbrella insurance, and more. Our insurance and risk management advisors are industry specialists for condominium associations, golf and country clubs, oil and petroleum marketers, construction, landscaping, churches and non-profits, and work comp. Navigating insurance requires an experienced and trusted insurance agent who understands your business risks and exposures. Gulfshore Insurance services Naples, North Naples, Marco Island, Bonita Springs, Fort Myers, Sarasota, Lido Beach, Longboat Key, Bradenton Beach, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.
Buyers closing October 1st or after should understand upcoming flood insurance changes. The yearly rates for flood insurance policies under FEMA’s National Flood Insurance Program (NFIP) will change on October 1 per the new Risk Rating 2.0 system.
Important Dates:
Phase I: Starting October 1, 2021, new NFIP policies will be subject to the 2.0 rating method.
Phase II: All NFIP policies not included in Phase I will be subject to the new rating method on or after April 1, 2022.
What You Need to Know:
It is expected that most homeowners in our area will experience rate increases due to their coastal exposure and high value properties.
Premium increases will transition gradually and will be capped at 18% annually until the full-risk rate for the property is reached. FEMA refers to the 18% gradual increase as the Glide Path.
Current NFIP rates are not grandfathered in; however, if a buyer confirms the seller has an existing NFIP flood policy, a new policy can be written using the seller’s Glide Path. The seller will need to provide a copy of their current policy Declarations page; the minimum information needed includes the flood insurance carrier, policy number, expiration date, and original policy date.
Buyers closing on a property without an existing flood policy should know that, starting October 1, rates will be considerably higher than current flood rates as the 18% rate cap does not apply. This significantly higher pricing also applies to new construction.
Frequently Asked Questions:
Is it true that Flood Elevation Certificates are no longer required when purchasing flood insurance?
Yes, while that is true we are finding that homes with a flood elevation certificate showing the property positively elevated are receiving lower pricing.
How can my buyer secure preferred pricing for their flood insurance?
We recommend confirming the seller has a flood insurance policy in place through the NFIP and obtaining a copy of that policy which will enable the buyer to obtain preferred pricing for their new flood policy.
In addition, buyers can review policy limits and deductibles to further customize the policy.
What if the seller does not have a flood policy in place?
In addition to coverage through the NFIP, new home buyers can purchase their coverage through Private Flood markets which have been competitive for a good number of property owners in our area.
Flood insurance is an essential piece of overall property protection. It is important to consult with a trusted advisor who can review carrier options and coverage and can offer the best pricing for your clients.
Andrea Pelletier, CPRIA, CPIA is Client Advisor and Partner at Gulfshore Insurance specializing in Private Risk Services. Andrea works with successful individuals and their families on creating and customizing package insurance solutions in the areas of luxury homes, car collections, jewelry, fine arts, watercraft, and personal excess liability. Comments and questions are welcome at apelletier@gulfshoreinsurance.com
Gulfshore Insurance is a Naples, Florida based insurance agency specializing in home and homeowners insurance, car and auto insurance, boat and yacht insurance, property insurance, umbrella insurance, valuables insurance for fine art, jewelry, wine, and more. Navigating insurance requires an experienced and trusted insurance agent who understands your high net worth risks and exposures. Gulfshore Insurance services Naples, North Naples, Port Royal, Park Shore, Pelican Bay, The Moorings, Naples Beach, Marco Island, Bonita Springs, Sanibel Island, Captiva, Fort Myers, Sarasota, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.
Andrea Pelletier, CPRIA, CPIA is Client Advisor and Partner at Gulfshore Insurance specializing in Private Risk Services. Andrea works with successful individuals and their families on creating and customizing package insurance solutions in the areas of luxury homes, car collections, jewelry, fine arts, watercraft, and personal excess liability. Comments and questions are welcome at apelletier@gulfshoreinsurance.com
Gulfshore Insurance is a Naples, Florida based insurance agency specializing in home and homeowners insurance, car and auto insurance, boat and yacht insurance, property insurance, umbrella insurance, valuables insurance for fine art, jewelry, wine, and more. Navigating insurance requires an experienced and trusted insurance agent who understands your high net worth risks and exposures. Gulfshore Insurance services Naples, North Naples, Port Royal, Park Shore, Pelican Bay, The Moorings, Naples Beach, Marco Island, Bonita Springs, Sanibel Island, Captiva, Fort Myers, Sarasota, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.
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