Education CAE

Education

To pass the test on risk management, educational institutions must develop a new curriculum.

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What to Expect in 2025

Educational institutions continue to navigate a growing list of complex risks, which may include intense financial pressures, campus safety challenges and issues related to educator and student mental health. The increasing adoption of artificial intelligence is creating other exposures educational leaders cannot ignore. Institutions that prioritize risk education and implement effective risk management strategies will move to the head of the class.

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Economic Viability

Navigating emerging risks while facing financial uncertainty.

Vitality

Making the grade with educators by enhancing benefit options.

Resiliency

A proactive approach to risk management is essential.

Theme Name

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Navigating emerging risks while facing financial uncertainty.

1 | Economic Viability

88%

of educational institutions say they are “highly” to “cautiously optimistic” about their organization’s performance and prospects in 2025, the highest confidence level reported by any industry surveyed by HUB.1

Making the grade with educators by enhancing benefit options.

2 | Vitality

of educational institutions see artificial intelligence (AI) as a top risk for 2025.

A proactive approach to risk management is essential.

3 | Resiliency

Ongoing financial challenges continue to pressure the budgets of educational institutions as higher operating costs related to salaries and overhead, campus safety, technology, insurance and facilities maintenance show no signs of easing. The declining enrolment trend at some institutions is accelerating financial issues, particularly those in higher education. The international student population has plummeted after the federal government imposed a cap earlier this year on the number of international study permits it would allow.2 As a result, universities that rely on international student enrolment to achieve their budgets expect to take a major financial hit. As educational institutions navigate these financial strains, the risks they face are also on the rise, including cybersecurity threats, infrastructure vulnerabilities, campus safety and increasing sexual abuse and molestation liability concerns. According to the HUB International 2025 Outlook Executive Survey,3 increased costs, business disruption and cyberattacks are the greatest risks to financial stability facing educational institutions. However, less than 30% of respondents have developed an action plan to address these risks, and only 21% have enough insurance coverage to protect their resources and data in the event of a cyber incident.

Many educational institutions continue to face significantly higher insurance premiums and limited capacity for sexual abuse and molestation coverage. This stems from large settlements and high costs of legal defence for legacy cases and current claims of sexual abuse, molestation and harassment. Academic leaders who work proactively to mitigate their risk can help reduce insurance costs and improve an institution’s insurability. Educational institutions should work with their insurance broker and use data analytics and predictive modelling to assess if their current insurance program is appropriate for their exposure or if other risk transfer solutions may be better able to meet their needs at a more affordable cost. A best-in-class broker with dedicated expertise in the education sector can help evaluate alternative risk financing strategies or suggest other creative options to help an institution’s insurance dollars go further. This can include the use of parametric insurance for unique exposures, such as hail and earthquake, and the use of captives for both commercial insurance and employee benefits.

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High levels of stress among educators remain a top issue since the COVID-19 pandemic as faculty and staff continue to deal with ongoing mental health challenges, the increased politicization of the educational system and gaps in student learning. At the K-12 level, half of Ontario teachers reported suffering from emotional exhaustion, and more than one-quarter have experienced high burnout.4 In higher education, many faculty members feel extreme stress, anxiety or depression — only doctors and nurses are more likely to burn out.5 These factors, as well as strained resources and concerns about campus safety, are impacting the sector’s ability to attract and retain new teachers. In fact, there is a growing number of non-certified (or non-qualified) teachers in the classroom, a stopgap measure adopted during the pandemic.6 Low morale in the education sector is likely affecting employee productivity, which was noted as a key priority that needs to be addressed by 67% of education sector respondents in the HUB survey.

Though educational institutions may find it difficult to compete with other industries when it comes to salary, institutions can provide robust and personalized employee benefit options to faculty and staff that boosts attraction and retention. According to the HUB survey, the benefit strategies that have the most traction within the education sector are mental health care, auto enrolment in benefits and offering personal and lifestyle insurance programs. Conducting a Workforce Persona Analysis™ and leveraging analytics tools can offer key insights into the benefits that faculty and staff want most, as well as how to deliver a personalized quality employee experience (QEX). Case Study The HUB Health & Performance practice created a health and wellness strategy and disability management plan for a public university that resulted in reductions in absenteeism and accelerated employees’ return to work.

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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. But being aware of them is not enough; they must also have a robust plan in place to protect students and faculty from these types of events. An insurance and risk specialist in the education sector can help educational institutions establish effective campus safety procedures and evaluate the risk of student harm. Managing risk to prevent incidents of sexual abuse is essential in all academic institutions. Specialists can also assist with developing a risk management plan and risk mitigation strategies to prevent incidents of sexual abuse from happening and implement a crisis response plan should a dangerous situation unfold. Sexual Abuse & Molestation: Long-standing challenges stemming from incidents of sexual abuse or molestation also require proactive planning and constant attention. With one in 10 Canadian women experiencing sexual assault in a postsecondary setting,7 leaders of educational institutions can’t afford to not invest in proven abuse prevention practices.

Mental Health of Staff and Students: A 2023 study cites rising rates of severe depression, anxiety and stress among students,8 but 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 students, they’re also not able to get help for themselves, only exacerbating the issue. Artificial Intelligence (AI): According to the HUB survey, only 30% of educational institutions see AI as a top risk to their viability, but there is no question AI technology is having a significant impact across the educational sector. By understanding and embracing AI’s many advantages, including its ability to automate and streamline core operations and help preserve academic integrity, educational institutions can become true leaders in this space. A robust AI governance strategy that is developed and followed by all key stakeholders will help organizations actively manage this evolving risk. Cybersecurity: With educational institutions possessing volumes of highly sensitive information for both minors and adults, the impact of a cyber incident could be catastrophic. Institutions must take their cyber hygiene seriously with a strongly enforced policy for managing device and network security, along with having a crisis response plan ready should an event occur.

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4 | Theme Name

Navigating Your Next Steps

HUB education insurance specialists will work with you to develop a tailored strategy for 2025.

Develop a comprehensive risk plan.

Enterprise risk management (ERM) can help educational institutions identify exposures, placing your organization in the best position to respond in case of an incident. Make sure your broker understands how to approach risk strategically and identify gaps in your institution's coverage.

Create a personalized benefits strategy.

Employees expect organizational support for their health, safety and wellbeing. Schools with a benefits strategy based on personalization and fostering quality employee experiences (QEX) will boost engagement, recruitment and retention while lowering risk.

An incident can be devastating to your institution’s reputation. Take advantage of your broker and insurer’s expertise if an event occurs. They can assist with legal counsel, crisis management, digital forensics and other issues.

Rely on your broker and carrier in a crisis.

Consistent communication with your insurance broker will help identify and mitigate issues in advance of the next insurance renewal and position your institution in the best light. Review exposures and insurance needs at least 90 to 120 days prior to policy renewal to allow your broker to find the optimal mix of coverage for your educational institution’s needs.

Be transparent with your broker.

Be Prepared

Download our 2025 Education Outlook and Insurance Market Rate Report to see what to expect in the coming year.

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Meet the Experts

North American Practice Leader

Education Practice

Courtney Davis Curtis

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Practice Leader, Canada

Diane Stone

Education Practice

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Risk Advisor

Scott Fouts

Education Practice

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HUB Education

When you partner with us, you’re at the centre of a vast network of experts who will help you reach your goals. For more information on how to manage your insurance costs, reduce your risk and take care of your employees, talk to a HUB education insurance specialist.

About Us

$350M

in commercial insurance premium brokered by HUB

4,300

education clients

14,000

insurance policies managed

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Related Resources

3. HUB’s 2025 Outlook Executive Survey polled 900 C-Suite and VP-level executives on the issues facing them on profitability, employee vitality and organizational resilience.

4. Frontiers, “Burnout among elementary and high school teachers in three Canadian provinces; prevalence and predictors,” April 25, 2024.

5. Psychology Today, “Why Are Academics So Burnt Out? The exhaustion crisis at universities should concern us all,” November 17, 2023.

6. CBC, “Teacher shortage has staff across Canada working ‘in survival mode’,” March 11, 2024.

7. Statistics Canada, “One in ten women students sexually assaulted in a postsecondary setting,” September 14, 2020.

8. CAMH, “Ontario youth experiencing increasing levels of psychological distress and inability to cope,” August 21, 2024.

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1. HUB’s 2025 Outlook Executive Survey polled 900 C-Suite and VP-level executives on the issues facing them on profitability, employee vitality and organizational resilience.

2. CTV News, “International student enrolment dropping below federal cap, Universities Canada warns,” August 30, 2024.

67%

of education respondents to the HUB survey cited improving low morale and productivity as a key priority for 2025.

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