RVesiliencitality y A proactive approach to risk management is essential. The financial performance and reputation of educational institutions are directly impacted by their ability to mitigate and manage risks, making it critical that they improve their organizational resilience. There are five key areas of focus for institutions to proactively address: Campus Safety: Academic institutions must continuously monitor new and evolving threats to campus safety, such as active assailant, student protests and civil unrest, and have a robust plan in place to protect students and faculty from these types of events. An insurance specialist in the education sector can help educational institutions Artificial Intelligence (AI): According to the HUB survey, establish effective campus safety procedures and evaluate only 30% of educational institutions see AI as a top risk the risk of student harm from incidents like sexual abuse to their viability, but there is no question AI technology is and acts of violence due to civil unrest or active shooters. having a significant impact across the educational sector. They can also assist with developing risk mitigation By understanding and embracing AI’s many advantages, strategies to prevent these incidents from happening including its ability to automate and streamline core and implement a crisis response plan should a dangerous operations and help preserve academic integrity, situation unfold. educational institutions can become true leaders in this space. A robust AI governance strategy that is developed Sexual Abuse & Molestation: Long-standing challenges and followed by all key stakeholders will help organizations stemming from incidents of sexual abuse or molestation actively manage this evolving risk. also require proactive planning and constant attention. With a 225% increase in large losses related to sexual Cybersecurity: With educational institutions possessing 8 volumes of highly sensitive information for both minors abuse against higher education institutions since 2012, leaders of educational institutions can’t afford to not invest and adults, the impact of a cyber incident could be in proven abuse prevention practices. catastrophic. Institutions must take their cyber hygiene seriously with a strongly enforced policy for managing Mental Health of Staff and Students: A 2023 study cites device and network security, along with having a crisis rising rates of severe depression, anxiety and stress among response plan ready should an event occur. 9 college students, faculty and staff, and the need for more support services is across the board, not just for one group. While staff are trying to address the needs of their 8. Praesidium, “Praesidium SML Report 2024,” accessed October 10, students, they’re not able to get help for themselves, only 2024. exacerbating the issue. 9. neaToday, “The Mental Health Crisis Among Faculty and College Staff,” March 7, 2024. 5