With $3M Dividend in 2019, Nonprofit Insurer’s Dividends Paid to Members Top $44.1M
April 23, 2019
Nonprofits Insurance Alliance of California demonstrates nonprofits can successfully insure themselves – Nonprofits Insurance Alliance of California (NIAC) has declared a $3 million dividend in 2019. NIAC will issue the dividend to its qualifying member-insured 501(c)(3) nonprofits renewing their policies from June 1, 2019, to May 31, 2020.
Nonprofits Insurance Alliance of California demonstrates nonprofits can successfully insure themselves
SANTA CRUZ, CA, April 23, 2019–Nonprofits Insurance Alliance of California (NIAC) has declared a $3 million dividend in 2019. NIAC will issue the dividend to its qualifying member-insured 501(c)(3) nonprofits renewing their policies from June 1, 2019, to May 31, 2020.
NIAC, a nonprofit insurance risk pool, is a member of the Nonprofits Insurance Alliance (NIA) and was the first risk pool to address the liability insurance crisis of the 1980s, when commercial insurers refused to cover nonprofit organizations. NIAC and other member companies of NIA are 501(c)(3) nonprofits and insure only 501(c)(3) nonprofits. As an integral part of the nonprofit sector, NIAC returns dividends to nonprofits as part of its mission.
NIAC’s dividend plan issues funds to members based on individual member premiums paid during the dividend period, length of continuous coverage, and favorable claims experience, which NIA’s risk management services help members to create. Since 2007, NIAC has returned a total of $44.1 million in dividends to the nonprofit sector.About Nonprofits Insurance Alliance:
Nonprofits Insurance Alliance (NIA) is a cooperative of 501(c)(3) tax-exempt nonprofit insurers whose sole purpose is to serve 501(c)(3) tax-exempt nonprofits. NIA provides a stable source of reasonably-priced liability insurance tailored to the unique needs and conscientious budgets of nonprofits. NIA also provides risk management resources exclusively to 501(c)(3) nonprofits to help prevent insurance claims that disrupt nonprofits’ services to vulnerable communities. Nonprofits Insurance Alliance of California is NIA’s first insurance risk pool.
Pamela E. Davis
Nonprofits Insurance Alliance
A.M. Best Affirms Group’s A (Excellent) VIII Rating
December 9, 2016
A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of the members of Nonprofits Insurance Alliance Group (NIAG): Alliance of Nonprofits for Insurance, Risk Retention Group (ANI) and National Alliance of Nonprofits for Insurance (NANI) (both domiciled in Barre, VT), as well as Nonprofits Insurance Alliance of California, Inc. (NIAC) (Santa Cruz, CA). The outlook of these Credit Ratings (ratings) is stable.
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of the members of Nonprofits Insurance Alliance Group (NIAG): Alliance of Nonprofits for Insurance, Risk Retention Group (ANI) and National Alliance of Nonprofits for Insurance (NANI) (both domiciled in Barre, VT), as well as Nonprofits Insurance Alliance of California, Inc. (NIAC) (Santa Cruz, CA). The outlook of these Credit Ratings (ratings) is stable.
The rating affirmations recognize the group’s excellent risk-adjusted capitalization and operating performance, its strong management, and effective niche market strategy. The ratings also consider the benefits derived and the companies’ strategic roles within the group, including the national platform provided by ANI, which is controlled, not owned, by NIAG. A.M. Best considers that ANI, NANI and NIAC function as a group, with the common mission of serving nonprofit organizations through common management of human resources and information technology, while administration, underwriting, marketing, claims and risk management services are provided by Alliance Member Services. Despite the lack of common ownership, A.M. Best expects that the respective boards of directors would act to support all entities within the group. Accordingly, A.M. Best deviated from its “Rating Members of Insurance Groups” rating methodology criteria procedure in regard to the lack of common ownership among the group members.
Partially offsetting these positive rating factors are the companies’ challenges associated with managing a growing book of business, geographical expansion and establishing market positions in the face of competition.
NIAC, ANI and NANI are part of NIAG. NIAC and ANI provide a range of liability coverages to 501(c)(3) nonprofit organizations, NIAC in California and ANI in all states. From Aug. 1, 2016, NIAC also provides property coverages. NANI provides property coverages for nonprofit organizations insured by ANI and also for NIAC prior to Aug. 1, 2016, through a fronting arrangement. Despite significant business growth in the past five years, the group has been able to maintain conservative leverage measures. The group’s capitalization levels are protected by solid reinsurance protection from a leading global reinsurance group. They also are supported by conservative reserving and investment approaches. In addition, NIAC, ANI and NANI benefit from their nonprofit, tax-exempt status and from the experience and success of NIAC, which has a leading market position serving California nonprofits. Reflecting the group’s expertise, strong customer focus and commitment to the nonprofit sector, member retentions are very high.
A.M. Best expects the group’s future operating performance to be stable but strong, and the stable earnings profile should further support the group to control its growth and business writings consistent with its capital and surplus position.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Ann Shanklin, Director of Loss Control, Elected to National Advisory Committee
February 18, 2016
Ann Shanklin, Director of Loss Control for the Nonprofits Insurance Alliance Group (the Group), has been elected to a three year term on the National Safety Council’s Defensive Driving Course International Advisory Committee
For Immediate Release
Pamela E. Davis, email@example.com; 831-621-6018
Susan Bradshaw, firstname.lastname@example.org; 831-621-6041
February 1, 2016 – Santa Cruz, CA – Ann Shanklin, Director of Loss Control for the Nonprofits Insurance Alliance Group, has been elected to a three-year term on the National Safety Council’s Defensive Driving Course International Advisory Committee. The focus of this committee is to identify traffic safety issues that have high potential to reduce injuries and deaths, to refine defensive driving courses offered by the National Safety Council based on this information, and to assist in the dissemination of the course’s core principles to the general public through leadership, research, education, and advocacy.
Ann has been serving as Director of Loss Control with the Group for more than 10 years, assisting ANI and NIAC members* and their insurance brokers to improve all aspects of safety in the delivery of the many key services nonprofits provide in their communities.
*Alliance of Nonprofits for Insurance, Risk Retention Group (ANI) and Nonprofits Insurance Alliance of California (NIAC) are part of the Nonprofits Insurance Alliance Group, currently providing liability insurance for more than 15,000 nonprofits in 32 states and DC.
To learn more, visit www.insurancefornonprofits.org
The Nonprofits Insurance Alliance of California (NIAC) celebrates 25 years of Serving Nonprofits in California and Announces New Visual identity Graduate Student Pioneers New Vision for Nonprofits
October 29, 2014
The Nonprofits Insurance Alliance of California (NIAC) today announced the celebration of 25 years serving the liability insurance needs of 501(c)(3) community-based nonprofits. What started out in 1989 as an untested idea scoffed at by insurance experts has grown into a thriving group of insurance cooperatives that now serve more than 14,000 nonprofits in 32 states plus DC with a 95% retention rate.
For Immediate Release
Pamela E. Davis, email@example.com; 831-621-6018
Susan Bradshaw, firstname.lastname@example.org; 831-621-6041
The Nonprofits Insurance Alliance of California (NIAC) celebrates
25 years of Serving Nonprofits in California and Announces New Visual identity
Graduate Student Pioneers New Vision for Nonprofits
October 29, 2014—Santa Cruz, CA—The Nonprofits Insurance Alliance of California (NIAC) today announced the celebration of 25 years serving the liability insurance needs of 501(c)(3) community-based nonprofits. What started out in 1989 as an untested idea scoffed at by insurance experts has grown into a thriving group of insurance cooperatives that now serve more than 14,000 nonprofits in 32 states plus DC with a 95% retention rate.
Visionary Pioneer Pamela Davis Champions the Plight of Nonprofits
Pamela Davis, today President and CEO of the Nonprofits Insurance Alliance Group, was a graduate student in Public Policy at U.C. Berkeley when the insurance crisis of the 1980s hit. As a result, nonprofits experienced a steep hike in their insurance premiums and many were denied coverage because their operations were seen as too risky to insure.
Ms. Davis’ vision was to have nonprofits insure each other by creating a risk pool in California. Backed by foundation support of $1.3 million, the Nonprofits Insurance Alliance of California (NIAC) moved into its tiny second floor offices in Santa Cruz, California. A few hours later the Loma Prieta Earthquake struck.
“Rattled with the possibility of having no power, water or phone service for weeks or months, things looked pretty bleak,” said Ms. Davis, “but we were determined.” A few weeks later, NIAC welcomed its first nonprofit member, Food First.
“We have been with NIAC from the beginning,” said Marilyn Borchardt, Development Associate of Food First. “For 25 years, we have appreciated having a partner we can count on to provide the coverage we need and inspired service. As a nonprofit itself, NIAC truly understands what nonprofits need and value.”
Going Nationwide with ANI
In 2001, the Group expanded outside California and began serving nonprofits through NIAC’s affiliate, the Alliance of Nonprofits for Insurance, Risk Retention Group (ANI). Initial funding for ANI came from grants from the Bill & Melinda Gates Foundation and the David & Lucile Packard Foundation. Each gave $5 million to expand the successful concept outside California.
About the Nonprofits Insurance Alliance Group
For 25 years the Nonprofits Insurance Alliance of California (NIAC) has set the bar for nonprofit insurance, with its unique approach to helping nonprofits get affordable and appropriate liability insurance and to assist them with risk management. Founded by Pamela Davis in 1989, NIAC is now just one of the four companies that now make up the Nonprofits Insurance Alliance Group: Nonprofits Insurance Alliance of California (NIAC), Alliance of Nonprofits for Insurance, Risk Retention Group (ANI), National Alliance of Nonprofits for Insurance (NANI), and Alliance Member Services (AMS). As the foremost nonprofit insurance cooperative across the country, the companies in the Nonprofits Insurance Alliance Group now insure more than 14,000 nonprofits in 32 states and DC.
As part of the 25th anniversary the Nonprofits Insurance Alliance Group is introducing a new visual identity and website. The new logo reflects the companies in the Group as well as the long term tagline: A Heart for Insurance. A Heart for Nonprofits. The artist who created the logo? Pamela Davis the Founder, President and CEO!
To learn more, visit www.insurancefornonprofits.org
Santa Cruz nonprofit insurance provider marks milestone, expansion
October 27, 2014
The Nonprofits Insurance Alliance Group is celebrating its 25-year anniversary with a new logo and branding announcement and the signing of its 14,000th member organization.
SANTA CRUZ >> The Nonprofits Insurance Alliance Group is celebrating its 25-year anniversary with a new logo and branding announcement and the signing of its 14,000th member organization.
It has been an unlikely journey for a nonprofit that has blossomed in the traditionally staid insurance industry from a tiny, downtown Santa Cruz storefront to become a national leader with $400 million in assets.
“I had insurance experts a month before I launched say, ‘You’ll be dead in a year,'” said Pamela Davis, founding chief executive officer who first mapped out her business plan in a public policy thesis as a graduate student. “They were convinced we’d be an utter complete failure.”
Instead, the company, which acts similar to a cooperative, now employs about 90 people and provides insurance coverage throughout California and to organizations in 31 states and the District of Columbia. About 335 nonprofit agencies in Santa Cruz and Monterey counties are client members.
“It was a huge gamble,” Davis says.
Davis, a former health food restaurant owner from Cleveland, Ohio, attended UC Santa Cruz as a re-entry student, studied economics, worked in nonprofit organizations and earned a master’s degree in public policy from UC Berkeley. The idea in her thesis was to shore up insurance services for nonprofits that were constantly scrambling to get coverage in a for-profit world.
“The commercial insurance industry said this is not an insurable business,” Davis said. “I was saying, ‘Let’s put all these uninsurable businesses together and make it a success.'”
Davis launched with $1.3 million in loans from nonprofit partners, hardly enough by today’s standards, and opened up a 2,000-square foot storefront on Cedar Street in Santa Cruz on Oct. 17, 1989, the day of the Loma Prieta earthquake. Rather than focusing on avoiding exposure, the mission was to provide nonprofit agencies the coverage, services and training they needed to do their good works. Oakland-based Food First, signed on two weeks later.
“For the first five years, it was hard everyday.” Davis said.
She worked to secure a nonprofit status for NIAC so the company would be part of the sector it serves, “to be just like our members.” If nonprofits were going to be putting in the premiums, they should get the benefits, she said.
In 2001, with a $5 million loan each from the Bill and Melinda Gates Foundation and the David and Lucile Packard Foundation, the organization expanded into other states as the Alliance of Nonprofits for Insurance.
“It’s the idea that they understand the nature of our businesses,” said Bob Langseth, executive director of the Boys & Girls Club of Santa Cruz. “They really filled a niche that was very important and very much needed and that probably is still true.”
Langseth noted that getting legal and human resources advice has been especially helpful.
“It’s the add-ons that they’ve brought on over the years, the extra support,” he said.
“Pamela has done a remarkable job,” said R. Lawrence Bacon, a Carmel Valley-based investment advisor and longtime member of the board of directors of NIAC.
He currently serves as president of the all-volunteer board, which is primarily comprised of executives from other nonprofits and professionals.
“We’re huge compared to where we started,” Bacon said.
Davis, an academic turned entrepreneur, is one of very few women executives in the industry.
“Even in Silicon Valley, you don’t see entrepreneurs grow in terms of management ability as she has over time,” Bacon said. “She’s been in the lead taking a lot of initiatives over the years and has grown with the company and has pushed the company.”
Among a long list of accolades, Davis has been named among the top 100 Women in the Insurance Industry, one of the nation’s top 50 “movers and shakers” in the nonprofit sector and one of the 15 Best Bosses for 2005 by Fortune Small Business and Winning Workplaces.
When she looks back at her 60-page master’s thesis on the insurance industry, Davis said she “pretty much got it right. Nonprofits weren’t really the terrible risk everybody thought they were.”
The biggest growth area for the company is now outside of California. The company was authorized this year to provide property insurance within California and hopes to gain that ability in other states as well.
“There’s a lot of room for growth,” Davis said. “In some ways I feel like we’ve just laid the foundation. We’re just going to focus on regular steady growth. We gain territory and we hold it.”
NxTech Congratulates Nonprofits’ Insurance Alliance of California, Winner of ASCnet Real Time Adoption Award
October 4, 2013
NxTech, Inc. a leading provider of agency-company-MGA interface solutions, congratulates Nonprofits’ Insurance Alliance of California (NIAC) for receiving the Applied Systems Client Network (ASCnet) Award for Real Time Adoption. The award recognizes NIAC for providing real time bridging for commercial lines of business to streamline the commercial lines quoting workflow with its agents that use Applied Systems.
Nonprofits Insurance Alliance Group and NxTech, Inc. Joint News Release
FOR IMMEDIATE RELEASE
NxTech Congratulates Nonprofits’ Insurance Alliance of California, Winner of ASCnet
Real Time Adoption Award
NIAC Recognized by Agents for Streamlining Commercial Lines Quoting
Milford, Ohio (October 1, 2013) – NxTech, Inc. a leading provider of agency-company-MGA interface solutions, congratulates Nonprofits’ Insurance Alliance of California (NIAC) for receiving the Applied Systems Client Network (ASCnet) Award for Real Time Adoption. The award recognizes NIAC for providing real time bridging for commercial lines of business to streamline the commercial lines quoting workflow with its agents that use Applied Systems.
NIAC was presented the award at the ASCnet 2013 TENCon Industry Awards Ceremony held September 30, 2013. “Each year we use TENCon to recognize carriers whom we feel have gone the extra mile to make doing business with them just a little easier. In 2013 we have put a high priority on improving the Commercial Lines process,” explains Bonnie Two Bears of InterWest Insurance Services and current Chair of the ASCnet Industry Solutions Committee.
Bonnie Two Bears, whose agency uses the NIAC interface, adds “I was excited to see one of our carriers receive an award for their work in implementing Commercial Lines Real Time Rating. The fact that they enable bridging for agents using the ACORD General Liability and Property applications rather than the ACORD BOP application within our agency system is a huge bonus for us as agents.”
“NIAC is committed to making it as easy and efficient as possible for our agents. We are honored that agents have recognized us for our efforts and the benefits they are realizing from taking keystrokes out of the quoting and renewal process with the bridge from their Applied Systems,” said Pamela Davis, CEO of NIAC. Pamela continues, “Our goal in partnering with NxTech was to design an agent portal strategy for quoting that would provide ease of use for all lines of business, and at the same time provide integration for agents using agency management systems.”
“We are excited to see NIAC be recognized for their implementation, especially when it comes from the real users, the agents. It really is about designing a solution that provides options,” says Thad Bauer, President of NxTech. Bauer continues, “NIAC agents are able to bridge traditional lines from their agency systems to the agent portal and then add other lines directly at the portal, such as Employee Dishonesty, Social Service Professional Liability or D&O. It all comes together in one place, making it easy for the agent.”
About NxTech, Incorporated
NxTech is a market leader in P&C agency interface and data integration with our award-winning Total Interface Solution™. Our clients realize results that enable profitable growth, increase customer retention and save time. With 30 years of industry leadership and the latest technology for Real Time Upload, Agent Download and Portal Development, NxTech helps insurers and MGAs provide best in class interface solutions with their distribution channels – all based on ACORD Standards. NxTech is headquartered in Milford, Ohio. For more information visit www.NxTechCorp.com
About Nonprofits Insurance Alliance Group
NIAC and ANI are part of the Nonprofits Insurance Alliance Group which currently insures more than 12,500 nonprofit organizations nationwide. We are 501(c)(3) nonprofit organizations ourselves and are governed by our nonprofit member-insureds. Our boards of directors are elected by our member nonprofit organizations. In 23 years, this Group has grown from an idea to a thriving nonprofit alternative to the traditional commercial insurance market. We are now setting the standard for how insurance is provided to nonprofits. For more information visit www.insurancefornonprofits.org
Santa Cruz Nonprofit Insurer Named one of the Bay Area News Group’s Top Workplaces
June 17, 2013
Nonprofits Insurance Alliance Group is pleased to announce that it has been selected as one of The Bay Area News Group’s Top Workplaces.
Santa Cruz, CA – June 17, 2013 – Nonprofits Insurance Alliance Group is pleased to announce that it has been selected as one of The Bay Area News Group’s Top Workplaces.
The Nonprofits Insurance Alliance Group includes four distinct 501(c)(3) nonprofit organizations whose mission is to be a stable source of liability insurance for 501(c)(3) nonprofits. The Group currently insures more than 12,000 nonprofits in 31 states plus DC.
“The Senior Leadership and I are very proud of this staff beyond measure and excited to have received such a prominent local distinction award. It’s an honor reflecting the quality of our workplace that we have built together. And, it demonstrates the staff’s enthusiasm for, and dedication to, our organization and serving nonprofits” states Pamela Davis, Founder/President and CEO.
For more information on the Nonprofits Insurance Alliance Group, please visit www.insurancefornonprofits.org
The Top Workplaces are determined based solely on employee feedback. The employee survey is conducted by WorkplaceDynamics, LLP, a leading research firm on organizational health and employee engagement.
For more information about the Top Workplaces lists and WorkplaceDynamics, please visit www.topworkplaces.com and www.workplacedynamics.com.