Nonprofits Insurance Alliance of California (NIAC) is a risk pool authorized under Chapter 5005.1 of the California Corporations Code which became law in 1986.
This law was amended in 2015 to enable risk pools in California to provide coverage for property as well as liability.
This change was passed as part of a consent agenda in acknowledgement of the great work that NIAC has accomplished serving the nonprofit community in California.
Since risk pools are authorized under the California Corporations Code, they are specifically not regulated by the Department of Insurance in California.
This law is modeled after the Joint Powers Authorities which are used by many California municipalities. As such, risk pools and Joint Powers Authorities are not part of the guaranty fund.