Not-for-profits and risk accountability : insuring the third sector

Tarr, Julie-Anne (2011) Not-for-profits and risk accountability : insuring the third sector. Australian Business Law Review, 39(5), pp. 354-361.

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Not for profit organisations face significant challenges in managing organisational risk. In this regard not-for-profits are not unique but they are distinguishable from their 'for-profit' counterparts in that they are less likely to have the resources to find sufficient risk management strategies and plans, are very vunerable to cyclical changes in the insurance market and are not usually in a position to pass on the costs of increased premiums to third parties such as consumers of their services.

This article explores the nature and extent of risks faced by the not-for-profit sector; the appropriateness and scope of risk management to reduce and manage the likelihood and incidence of risk; and the types of insurance and options to cover risks that materialise. It concludes with a recommendation for a potential course of action.

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ID Code: 47332
Item Type: Journal Article
Refereed: Yes
Additional URLs:
ISSN: 0310-1053
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Accounting Auditing and Accountability not elsewhere classified (150199)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2011 Lawbook Company
Deposited On: 29 Nov 2011 23:08
Last Modified: 20 Jan 2012 15:30

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