For several years, the RCM&D Education Practice has authored its annual “Education Outlook – Top 10 Risks for Education” report. While certain market dynamics and risk trends from 2020 certainly evolved going into 2021, the key risks have not materially changed. These risks include the COVID-19 pandemic, finance pressures and enrollment decline, student mental health, TBI and concussions, litigation finance trends, social inflation, and more.
As the impact and response to these risks continue to progress, new challenges are uncovered. Like many risks, these are often out of the direct control of decision-makers at the educational institution. Regardless, several strategies can help mitigate future impact and put the institution in the best position possible for its insurance renewal.
This year, instead of focusing on the risks themselves, our 2021 report will hone in on several key mitigation strategies that can help proactively reduce risks to operations, finances, and assets, as well as protect the health and safety of your students, faculty, and staff. We will focus on:
- The Hard Market
- Cyber Risks
- Managing the Uninsured Pandemic
These risk mitigation strategies will be highlighted in more detail via monthly blogs, various resources, and email newsletters. Complete the form below to request the full report and get added to the list to receive notifications when we publish more information on these strategies.
We also encourage you to reach out to RCM&D with any questions related to your individual institution’s risk management program or for more information on strategies within this report.