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Risk Management Focus: Terrorism Risk Insurance Act (TRIA)

Terrorism Risk Management Insurance Act Set to Expire After Bill Blocked in Senate The Terrorism Risk Insurance Act (TRIA) is set to expire on Dec. 31, 2014, after a House-passed bill to extend the program for an additional six years was blocked in the Senate. TRIA, which was created shortly after the terrorist attacks of 9/11,…

Liabilities for Non-Profit Board of Directors

Nonprofit organizations provide essential social services that benefit communities and their members. These organizations cannot survive without a solid volunteer Board of Directors assigned to elect officers, adopt policies and make major financial decisions for the organization. Although the members of the board are volunteers, there are liabilities involved in holding one of these positions….

Colleges and Universities Financial Information at Risk Due to Hacking

The recent trend of hacking secure networks has invaded the academic world, spreading to many colleges and universities in the United States. Universities make a tempting target as enrollment and financial aid forms stored on the network often contain student and parents’ financial records that hackers could use for identity theft or other lucrative forms…

Assets Held by Charitable Organizations Are Safe From Claims of Creditors in Bankruptcy Cases . . . Or Are They?

“Property of the Estate” is a very broad and sometimes vague term, which can often lead to disputes over held assets in a bankruptcy case. This ambiguity can be further complicated with large estates or the bankruptcy of charity or non-profit organizations. While many believe that assets like donations or pension funds are protected from creditors in the event of liquidation, some recent cases have shown that this is not always the case. The following article by authors Ileana M. Hernandez, Ivan L. Kallick and Jill S. Dodd examines how charitable organization assets like donations may be treated in a bankruptcy case.

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