Nonprofits made numerous changes to their business models during the pandemic. Did they change their exposures as well?
2020 was the year of the pivot.
Office workers transitioned from commuting every day for their 9-to-5 to logging in from their living rooms. Restaurants shifted from in-person dining to delivery services and curbside pick-up. And we all took additional safety measures like wearing masks and increasing hand-washing to combat the global COVID-19 pandemic.
Parvathy Sree, vice president of nonprofit underwriting, AmTrust Financial Services
Even those in the nonprofit sector found themselves tweaking their models and services to work safely during the pandemic. Many nonprofit organizations shifted in-person events to virtual ones, changing their business model in the process.
Rather than accepting in-person donations, for example, a food pantry may have started accepting monetary donations and using delivery services to help get the food to the people in need. Shelters worked with city governments to set up arrangements with hotels so that homeless people could be…
