Nonprofits Insurance Alliance
Unless something is done to solve the insurance crisis and make P&C coverages more expansive and affordable, many nonprofits may find themselves unable to continue serving their communities.
The nonprofit insurance market is in crisis, according to Nonprofits Insurance Alliance (NIA). In what could be labeled as “the perfect storm,” nonprofit organizations are battling against a hardening property and casualty insurance market, a restriction of appetite among insurers who have traditionally supported the sector, and now the COVID-19 pandemic.
Nonprofit Insurance Sector ‘In Crisis’ at Insurance Business America
Paucity of insurance for U.S. nonprofits concerning as regulatory, legal limitations persist
U.S. nonprofits are struggling to obtain affordable risk coverage due to limited options available in the market. Mainstream carriers aren't wanting to underwrite the risk, and legal limitations are hindering other nonprofit insurance groups from entering the market.
Hochul Signs Bill Allowing Out-of-State RRGs to Cover NY Nonprofits
New York Gov. Kathy Hochul recently signed legislation which will allow out-of-state risk retention groups (RRGs) to write auto insurance coverage to NY nonprofits.
Nonprofit Insurance & Conscious Leadership with Pamela Davis at NIA
In this interview, Pamela Davis discusses consious leadership on The Nonprofit Lab podcast.