Risk Retention for the Win
April 27, 2021
By A. Ren Agarwal and Brian Johnson for Rough Notes
Is the concept of a risk retention group (RRG) scarier than the concept of blockchain or bitcoin? It shouldn’t be, because it’s a proven option for many insureds, especially nonprofits.
Done right, risk retention can be a salvation for those industries and organizations that are saddled with hard-to-place risks.
Nonprofit Insurer Pays $3 Million In Dividends
April 19, 2021
Nonprofits Insurance Alliance (NIA) approved a $3-million dividend for policy holders, the 15th consecutive year that a dividend was declared. Dividends to nonprofit members have now eclipsed $50 million since 2007.
California Insurer Announces 15th Consecutive Dividend for Policyholders
April 15, 2021
SANTA CRUZ, Calif.–(BUSINESS WIRE)–Nonprofits Insurance Alliance (NIA) today announced that the board of directors of Nonprofits Insurance Alliance of California (NIAC), an insurer under the NIA brand, has approved a $3 million dividend for policyholders (members). Since 2007, NIAC has cumulatively returned $50 million in dividends to its members, all of whom are 501(c)(3) nonprofits.
Nonprofit Alliance Launches COVID, Communicable Disease Coverage
April 12, 2021
By: NonProfit Times Insurance policies all have exclusions from coverage. Nonprofit executives found out the hard way that despite buying every available coverage, COVID-19 or other such events were out of the coverage area. …NIA launched its coverage at the beginning of this year, when insurance companies and reinsurers began excluding communicable disease coverage from their policies.
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.