SANTA CRUZ, Calif. — (BUSINESS WIRE) — More than 21,000 nonprofits know why Investopedia named their insurance provider, Nonprofits Insurance Alliance (NIA), Best Overall in its most current rating of insurance providers for nonprofit organizations. In its recognition Investopedia said, “The Nonprofits Insurance Alliance works exclusively with nonprofit organizations, and their team of specialists can help you secure the best policy based on your organizational and industry needs. This experience, when paired with their policy options and resources, make NIA the best overall nonprofit insurance provider.”
Investopedia specifically recognized NIA policy options and coverages, high customer retention, and member resources that “help businesses minimize liability risks by providing training, education, and other types of support.”
“As a nonprofit ourselves, our mission is to support the nonprofit sector, and we do that by providing coverages and services that protect nonprofits and allow them to focus on the communities they serve,” says Pamela Davis, NIA founder, president and CEO. “I am delighted that NIA is recognized as the premier insurance provider for the nonprofit sector.”
The AM Best rating is based on quantitative and qualitative evaluation of balance sheet strength, operating performance, and business profile. Last month AM Best increased NIA’s Financial Size Category (FSC) from “VIII” to “IX.” The FSC is based on policyholder surplus and is designed by AM Best to provide a convenient indicator of the size of a company in terms of its surplus and related accounts. An FSC rating of IX indicates surplus between $250 and $500 million.
NIA provides liability and property insurance in 32 states and the District of Columbia through over 1,000 independent brokers.
When reviewing nonprofit insurance companies for their analysis, Investopedia first looked for organizations that specialized in coverage for nonprofit groups and organizations. Investopedia then reviewed their coverage options, industries served, customer reviews, and, when available, premiums and limits. Investopedia also considered the amount of time a provider was in business as well as their AM Best rating to ensure the providers chosen had a history of providing quality service and reliable coverage.
To learn more about the Investopedia methodology and to review all insurance companies included in the Best Nonprofit Insurance review visit: https://www.investopedia.com/best-nonprofit-insurance-5186193.
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, California, 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.
NIA members enjoy fair and equitable prices on insurance, specialized insurance coverage, dividends, and innovate risk management and member services.
The NIA group brand is comprised of Alliance Member Services (AMS) and three insurers rated A (Excellent) by AM Best: Nonprofits Insurance Alliance of California (NIAC), Alliance of Nonprofits for Insurance, RRG (ANI), and National Alliance of Nonprofits for Insurance (NANI).
All organizations under the NIA brand are 501(c)(3) nonprofits. Learn more about Nonprofits Insurance Alliance at insurancefornonprofits.org/about.