What the BCS Title Game Teaches About Insurance

I’m totally newsjacking right now.  While the 2012 BCS National Title game is petering along (Alabama is destroying Notre Dame at the moment), I got to thinking about possible connections between the BCS title game and insurance for social service agencies.

This will NOT be a well-researched blog post. But there are some lessons:

  1. Have a Large Front Line: Both of Alabama and Notre Dame have what is affectionately known as ‘Big Uglies’.  Outside of all the talk about the ‘storied programs’, the focus was how Alabama’s huge offensive line would fare against the solid Notre Dame defensive line. I’m half through the game as of this writing, so it’s obvious who has the upper hand (it’s 28-0 Tide manhandling the Irish). The Lesson: Big ugly limits are important to consider. Don’t just accept ‘industry standard’ liability limits. Adding excess liability can be a low-cost way to protect your assets.
  2. Have a Plan: You can’t go into a hugely important college football game without reviewing all the tape and creating a solid plan. When you’re starting a nonprofit, you can’t just willy-nilly get things going. One of the important pieces of your business plan is how you’ll protect your organization–its assets, its human resources (volunteers, clients, employees), its mission. The Lesson: It’s obvious…. you have to create a playbook. It’s important to figure out best practices for all areas of your business.
  3. History Is Not Always an Indicator of Future Success: Notre Dame has the pedigree. They have the history (granted, it’s mostly ancient).  This national title game smacked of nostalgia. Alabama has it too, and they are living up to the hype. But there is NO promise that past success will absolutely confirm future good fortune. The Lesson: “We’ve never had a loss before” isn’t a good reason to not carry insurance. Small nonprofits can occasionally equate past ‘loss-less-ness’ with future ‘loss-free-ness’. You just never know. And it might not be your fault. It could be a volunteer or simply an unfounded accusation of negligence.

So there you have it. A few violently forced insurance lessons from the BCS National Championship Game.

Go Falcons! (I’ve already moved on).

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