SANTA CRUZ, CA — Nonprofits Insurance Alliance (NIA) earned positive assessments from AM Best, the insurance industry’s leading credit rating agency, for its financial strength and overall credit rating. AM Best’s A- (Excellent) rating for NIA is noted within the agency’s financial size rating category.
NIA’s three nonprofit insurance providers collectively received a Financial Strength Rating of “A-” (Excellent) and Issuer Credit Rating (ICR) of “a-”, reflecting NIA’s balance sheet strength, which AM Best categorizes as “Strong.”
AM Best also noted NIA’s adequate operating performance, neutral business profile, and appropriate enterprise risk management.
“We are thrilled that AM Best has reaffirmed our rating A- (Excellent). Nonprofits need an insurance partner like NIA that remains committed to them in good times and bad,” says Carlos Ballesteros, NIA’s CFO and Treasurer. “NIA is a nonprofit itself, so it is philosophically aligned with nonprofits and accountable to them.”
NIA’s group brand includes the following insurers, all of which are 501(c)(3) nonprofits:
- Nonprofits Insurance Alliance of California (NIAC), based in Santa Cruz, CA.
- Alliance of Nonprofits for Insurance, Risk Retention Group (ANI), domiciled in Vermont
- National Alliance of Nonprofits for Insurance (NANI), domiciled in Vermont
About Nonprofits Insurance Alliance
Nonprofits Insurance Alliance (NIA) is the nation’s leading liability and property insurer exclusively serving nonprofit organizations.
Founded in 1989 in Santa Cruz, Calif., NIA is a social enterprise developing the long-term sustainability of the nonprofit sector.
NIA has one of the best customer retention rates in the industry, and NIA members enjoy fair and equitable insurance prices, specialized insurance coverage, member resources, and innovative risk management.
