AM Best Affirms Financial Strength Rating of A (Excellent) of Nonprofits Insurance Alliance (NIA) for 2020
January 21, 2021
SANTA CRUZ, Calif.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Issuer Credit Rating (ICP) of “a+” of the insurance entities of Nonprofits Insurance Alliance (NIA). The ratings reflect NIA’s balance sheet strength, which AM Best categorizes as strongest, as well as NIA’s adequate operating performance, favorable business profile, appropriate enterprise risk management, and stable outlook. In addition, AM Best assigned a rating of Significant for its assessment of NIA’s innovation summary.
Nonprofits Insurance Alliance Launches Communicable Disease Coverage
December 7, 2020
SANTA CRUZ, Calif.–(INSURANCE JOURNAL)–Nonprofits Insurance Alliance (NIA), a property and casualty (P&C) carrier exclusively serving 501(c)(3) organizations, has launched a new coverage to protect nonprofits from liability arising from communicable diseases. Beginning January 2021, NIA members can purchase NONPROFITS OWN Communicable Disease Liability Insurance that offers a sublimited amount of coverage to protect their organizations from liability claims arising from communicable disease.
Insurer Offers Communicable Disease Coverage for Nonprofits
December 2, 2020
SANTA CRUZ, Calif.–(BUSINESS WIRE)–Nonprofits Insurance Alliance (NIA), the leading property and casualty (P&C) carrier exclusively serving 501(c)(3) organizations, announced today new coverage for nonprofits: NONPROFITS OWN® Communicable Disease Liability Insurance. Beginning January 2021, NIA members can purchase a sublimited amount of coverage to protect their organizations from liability claims arising from communicable disease.
Easing the Pain for Nonprofits
October 27, 2020
by Insurance Business America
HARD MARKET conditions that intensified through 2019 set the tone early for a difficult 2020 in the nonprofit insurance sector. Commercial carriers began narrowing their appetite, increasing rates and, in some cases, completely exiting the market.
Few Places to Turn – Community nonprofits collide with insurance availability.
September 30, 2020
Nonprofits across the country are receiving nonrenewal notices or policy renewal offers with sharply reduced coverage and double-digit premium increases. Some advocates don’t believe traditional insurance markets understand or appreciate the risks of nonprofits that provide community services. The culprit in the current nonprofit insurance crisis is unsubstantiated insurer concern over high-frequency, high-severity child sexual abuse lawsuits.