Higher Ed Counsel & Strategic Solutions

It can be tempting for colleges and universities to treat insurance renewals as a routine administrative task, especially if loss experience has been good, or the institution has maintained the same coverage structure for years. But insurance is not simply a purchasing question. It is a risk management decision that requires broad assessment to ensure that coverage still aligns with current operations, emerging exposures, and institutional priorities. Below are questions for institutions to consider at and before their annual insurance renewal periods:

The landscape of college athletics is undergoing a seismic shift with the rise of name, image, and likeness (NIL) rights. As student-athletes gain the ability to monetize their personal brands, a new era of opportunity—and liability—is expanding far beyond the athletes. In addition to the student-athletes, NIL stakeholders include universities, athletic conferences and organizations, sponsors, and the athletes’ families, among others. Whether the goal is to guard against emerging liabilities or protect the NIL revenue stream itself, stakeholders should consider both traditional and specialty lines of insurance. Here’s what you need to know.