It’s really very simple: NIA charges a fair and sustainable price for the coverages nonprofits need.
NIA’s nonprofit members know that they need not worry about wild price fluctuations from year to year.
Of course, a nonprofit that is growing will present a higher risk profile through new activity and can expect a commensurate increase in premium to reflect that growth. And sometimes, NIA needs to increase prices on certain types of coverage because of changes in the environment.
For example, since 2007, NIA has noticed a significant and sustained increase in the cost of Employment Practices claims. While this is more pronounced in California, it is a nationwide trend. When it’s necessary to increase prices to protect NIA nonprofit members from changes like this, NIA lets both brokers and members know about the anticipated increases well in advance, to allow them to budget properly.