Studio Cattolica, third sector company of strong social value but still under-insured

The ‘Non Profit’ is a reality of very strong social value but still under insured. This is what emerges from the ‘Non Profit in Evolution’ survey carried out by Cattolica Assicurazioni, a company of the Generali Group, in collaboration with Cesen, Center for Studies on Ecclesiastical Bodies and on other non-profit organizations of the Catholic University of the Sacred Heart , and Innovation Team. The study, in particular, highlighted the peculiarity and complexity of the risks of Non-Profit Bodies, which present important elements of specificity with respect to the for-profit sector: think for example of the case of volunteers and administrators. Out of a total of approximately 5.5 million volunteers involved, not all have been insured: currently 17.5% of the entities potentially subject to insurance obligations confirm that they have not yet signed the policies provided for by the Reform, with obvious consequences, in the event of a claim, for the organization and its administrators. Furthermore, the threat of cyber risk is scarcely felt: only 4.5% of respondents declared that they have signed a specific policy for this coverage. , Support the Non-Profit, held at the Generali CityLife Tower in Milan, aims to strengthen the sustainability of organizations by seeking a balance between appropriate governance choices, organizational structures functional to attracting new resources and adequate risk management strategies . Non-profit and Third Sector Bodies, adapting to the solicitations contained in the Third Sector Reform, are experiencing a moment of strong evolution, called to make the decisive step in terms of professionalism of management, ability to network and evaluation of results. New imperatives in the name of sustainability over time: the top management of bodies and social enterprises must provide themselves with adequate coverage relating to the activity of volunteers and administrators and to guarantee their assets, as well as resorting to tools to protect against new risks, such as cyber risk, data protection and forms of insurance welfare. The goal must be to overcome the degree of underinsurance that characterizes this sector, in line with all segments of the non-motor damage insurance market in Italy.A challenge also for insurance companies, which are called to ‘proportion’ solutions to peculiarities of these Bodies, avoiding re-proposing models and approaches typical of for-profit companies and taking care of the design of the products, both in terms of contractual characteristics and pricing. For their part, for the Authorities, there is growing interest in interacting with insurers able to know their operations and to formulate ‘tailor-made’ proposals, which are still not very widespread today. ‘Istat and a qualitative analysis carried out through interviews, focus groups and an extensive survey against a sample of about 500 organizations, intended to map a world affected by profound transformations and understand the challenges it will have to face. The set of results acquired was reworked in the light of three paradigms that represent the aspects on which Non-Profit organizations will have to measure themselves in the future: stability, effectiveness and risk management. legal and organizational in accordance with their needs and the regulations in force. The Report highlights the importance for Bodies of being able to make adequate assessments, also in light of the Reform and the opportunities offered, first of all the choice of the type of ETS. It is essential to know one’s strategic position in order to have an adequate legal and institutional structure, enhancing one’s role in relation to the system, Public Administrations, for profit organizations. resource management. The Report shows how the challenge of effectiveness today passes from the ability to obtain and manage financial resources with greater professionalism, potentially more numerous than in the past: public funds, private donations, revenues from commercial activities, 5x thousand. Faced with this, the sector is faced with new needs: increasing transparency, cooperating with the Public Administration, digitizing, attracting and enhancing employment resources, managing and protecting volunteers. Risk management. The study highlighted the peculiarity and complexity of the risks of Non-Profit Bodies, which present important elements of specificity with respect to the for-profit sector: think for example of the case of volunteers and administrators. Thanks to the specific know-how acquired over the years, the Company has prepared the first modular and dedicated solution (Cattolica & Non Profit) for the protection of assets, assets and people with a combination of the various guarantees and customizable insured sums. Finally, with the aim of putting the created value into circulation, Cattolica Assicurazioni and the Cattolica Foundation launched the initiative ‘A hand to those who support’ reserved for projects that enhance the uniqueness of the person as a lever for the progress of the community. On the basis of a tender promoted by the Cattolica Foundation for a total value of 500 thousand euros, the projects considered to be the most innovative in responding to emerging collective needs and, at the same time, more capable of self-financing and growing over time, will be supported with a disbursement.