The risk management landscape is changing fast. It is important for ministry owners and managers to understand how these trends will impact their commercial insurance programs. Technology, consumer trends, litigation, and regulations all have increased risk.

• The Changing workplace environment. Employers are having to manage a change in workplace demographics. The baby boomers are retiring and employers will need to figure out how to attract the next generation of workers.
• Cyber Risk. Every business will need to consider cyber insurance. Most businesses have a greater risk of having a cyber-attack than they do of having a fire. Cyber security was big news last year. Hardly a week went by without a report of a data breach in some industry. In fact, the Identity Theft Resource Center reported a record high of 1,233 data breaches in 2014, which is a 39 percent increase from 2013’s numbers.
• Employment Laws. Whenever there is political change you can count on new and/or updated employment laws. Employers will need to keep up to date on how these laws will impact their businesses. Every employer should consider Employment Practices Liability Insurance.
• Workers’ Compensation. All states will continue to address legislative measures that could have an impact on employers including; drug usage, independent medical exams, medical marijuana, and the misclassification of employees and contractors.

Tags: church liability insurance, Risk Management

This entry was posted on February 10, 2016 at 1:37 am. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Posted in Church Insurance Church Risk by Scott Stuart Comments Off on Risk And Insurance Trends To Watch in 2016