A.M. Best Rating
All companies in the Nonprofits Insurance Alliance Group are rated A VIII (Excellent) by A.M. Best.
NIAC was founded in 1989 as a liability insurance pool, owned and operated by its nonprofit members. NIAC was originally capitalized with $1.3 million in loans from the following foundations:
- Ford Foundation
- Wallace Alexander Gerbode Foundation
- San Francisco Foundation
- Walter S. Johnson Foundation
- David & Lucile Packard Foundation
- Marin Community Foundation
ANI and an affiliate captive reinsurance company were capitalized with $10 million from two foundations. Each of the following foundations contributed a $5 million grant to the effort.
The Nonprofits Insurance Alliance is conservatively reinsured by a group of highly rated reinsurers.
We are required to maintain financial resources at levels that meet the obligations we have made in our insurance contracts with our members. But we have the privilege of sharing better than expected financial outcomes with our members!
Over the past thirteen years, NIAC has declared $44.1 million in dividends for its nonprofit members in California. ANI is not yet of a sufficient size to begin paying dividends, but ANI members are already earning loyalty credits toward potential future dividends.
While it is not likely that every year will warrant a dividend, it is our pleasure to announce them when results are better than anticipated.