As I interact with private school leaders, church leaders, business administrators and risk managers today, I am often asked which risk I feel is the worst for today's religious organization to deal with.  If the engine is removed, how long will the train continue to move?  The key person risk stands out as it is really no different than the family that protects those who produce the income and the possible income loss, as well as the person who may not be the main income producer but who is a key person in helping the family function and survive today. This risk can affect an organization at the most critical times of its ministry, and it may bring total destruction to the ministry because it is often the least prepared for or even thought of.  From what I have seen when reviewing presented losses, key person insurance is as critical today as liability coverage. Both causes of loss can cause the demise of the organization in a very abrupt and painful manner.  For most organizations, this risk can be covered for just a few hundred dollars per year. The most critical times for this, though it is not limited to just these, for medium to large organizations and the fairly new organization, are:

The Provided Housing Risk

Provided housing, the risk that if overlooked can leave a school with a possible financial risk that could cause it hardship; it could also place those who lived in the provided home in a hardship position with no place to live. Far too often, when provided housing is offered as part of the compensation package, nothing is done to plan for the resulting risk should the employed party pass away.  Provided housing can save the school funds they would otherwise have to pay the employed person.  The school is then put in the position where they must either ask the family and spouse to leave with nothing to replace their home, or to do their best to provide another home for the new employed person's family if an untimely death should occur during the employment period.

The Provided Housing Risk

Provided housing, the risk that if overlooked, can leave a new church with a possible financial risk that could cause it hardship, or it could place their minister's spouse and family--or other employed spouse and family--who lived in the provided home, in a hardship position with no place to live.  Far too often, when provided housing is offered as part of the compensation package, nothing is done to plan for the resulting risk should the minister or other employed party pass away.  Provided housing can save the church funds they would otherwise have to pay the minister or other employed person.  The church is then put in the position of either asking the minister's family and spouse or the other employed's family and spouse, to leave with nothing to replace their home, or of doing their best to provide another home for the new minister and other employed person's family if an untimely death should occur during the employment period.

Identity theft risk management will soon be available from GuideOne as an endorsement to your home policy. Contact us for info on this important coverage for today.

Risk Management : The process of making and implementing decisions that will minimize the effects of loss.

Identity theft, the problem today: Identity theft is an increasing concern today with the following startling facts:

• Identity theft increased by 81% in 2002
• 9.9 Million victims reported identity theft in 2003
• 90% of homeowners fear identity theft, but few know much about preventing it
• According to the Federal Bureau of Investigation, identity theft is one of the fastest growing crimes in America.
• Identity theft occurs when a criminal obtains a victim's name, Social Security number, address, credit card number, or other personal information, and then uses the information to commit fraud, or other crimes.
• A person's identity can be stolen in a variety of ways. Someone's billfold might be lost or stolen.
• A person may unknowingly give out personal information on the internet or over the phone.
• A criminal may steal someone's mail, or even dig through their trash to find personal documents.
• Once the criminal has the proper info, he or she is able to access the victim's bank accounts, use credit cards, apply for new credit cards, take out loans, and conduct other criminal activity.
• Not only can the victim of identity theft lose property and cash, but large debts can be run up in the victim's name and their credit rating destroyed. 
• It can cost thousands of dollars in legal fees, lost wages, and other related expenses to resolve it.
• Victims can for months, and at times, years, trying to restore their identity, financial records, and credit. They may also lose job opportunities and even get arrested for crimes not committed.  

Tips that can help you prevent identity theft: