Employee Enhanced Flex Work Schedule Announced by Insurer During COVID-19
September 22, 2020
SANTA CRUZ, Calif.–(BUSINESS WIRE)–The nation’s leading insurer exclusively serving nonprofit organizations is implementing the COVID Enhanced Flex Work Schedule program (Enhanced Flex Work) for its employees. Through Enhanced Flex Work, employees have the option to adjust the times during which they are working to accommodate personal circumstances, above and beyond what most employers provide with a traditional flex time program. Balancing work and home demands can be challenging in the best of circumstances, made even more so as the pandemic has upended schedules for school and care providers. Enhanced Flex Work empowers employees to make decisions that are best for their personal circumstance and removes impediments to employee wellbeing, productivity, and ability to meet the needs of NIA members. The program demonstrates NIA’s commitment to fostering a culture of innovation.
Solving the Challenge of Finding Markets for Nonprofit Organizations
September 17, 2020
For nonprofit organizations, obtaining adequate insurance coverage for their needs has been difficult in the past and continues today due to market dynamics. The cost of property and casualty insurance has been on the rise and it now can potentially bring far-reaching consequences. With a national health emergency in the forefront, the nonprofit organizations – especially small and midsized – are seeing large impacts in the coverage they can secure. Without additional support for the nonprofit insurance market, there will be hundreds if not thousands of nonprofit organizations struggling to pay higher premiums with limited and/or shrinking budgets, that is – unless their coverage is simply canceled outright.
How to Build an Insurance Company—or Any Business—with Community at the Center
August 28, 2020
by Lori Widmer – InsuranceJournal.com
It’s a common corporate practice to use philanthropic pursuits to improve both their communities and public images. Some organizations donate both funding and manpower through formal philanthropy programs. Others choose to give regularly to selected charities. But for Pamela Davis, that wasn’t enough. Davis decided to build an organization with the community at the center. Davis is founder and CEO of Nonprofits Insurance Alliance (NIA), a social enterprise and insurance carrier that serves the nonprofit sector exclusively. Built on the premise that business can be a force for good, and nonprofits can join together to build mutually beneficial capabilities, NIA was designed to serve the needs of the community from the start.
Why risk retention groups are critical for a healthy insurance marketplace
August 11, 2020
by David F. Provost, PropertyCasualty360
The insurance marketplace has evolved significantly over the past several decades. Organizations today have access to many forms of risk transfer beyond the purchase of traditional insurance. The Alternative Risk Transfer market (ART), as it has come to be known, is able to tailor solutions previously unavailable and has become an integral part of the insurance landscape.
With COVID-19 and a Hardening Market, Captives Respond to Challenges
July 29, 2020
Captive.com–As with previous commercial insurance market disruptions, captive insurance companies are responding to the current hardening traditional market, according to AM Best.
“These companies came into existence because of difficult markets,” said Fred Eslami, associate director at A.M. Best. “Those difficult markets exist right now.” Current conditions will likely result in more new captive insurance companies or parents of existing captives adding coverage lines to the alternative risk transfer vehicles or finding other ways to use them.