Nonprofits Insurance Alliance - 2018 NIA Annual Report

The Loma Prieta earthquake struck as we were moving into our first office in 1989. We were at the epicenter. Thirty years later, we continue to stay at the center and shake things up in the insurance industry! Leading by example, we provide policy coverages and services to meet the specific needs of community-based nonprofits of all sizes. Where many are loathe to tread, we’re always looking for ways to responsibly cover the difficult exposures. Although our beginnings were beyond humble, we have become a leader challenging commercial insurance companies to continually improve the products and services they offer to nonprofit organizations. CELEBRAT ING 30 YEARS OF SERVICE TO NONPROF I TS Just how risky was this startup? “In my first month working with a reinsurance company more than 30 years ago, I met with Pamela Davis, who was trying to create the Nonprofits Insurance Alliance. My boss sent me to the meeting for practice, never expecting we would want to take on this risk of reinsuring nonprofits. I was impressed with the pas- sion, intelligence, and commitment evident in Pamela’s efforts and championed the idea to the leadership in my company. I don’t think anyone today can fully appreciate what an oddball concept this notion of nonprofits insuring themselves was considered to be at the time. As I reflect on my 35+ years in the insurance/ reinsurance business, being a small part of what Pamela, her colleagues and the nonprofit community they serve has built, is one of my most rewarding experiences.” —Chris Moresco, Guy Carpenter “I don’t think anyone today can fully appreciate what an oddball concept this notion of nonprofits insuring themselves was considered to be at the time.” “I was a program officer at the Ford Foundation in the late 1980s when Nonprofits Insurance Alliance came to us to request a loan of $500,000 as part of their start-up capital. This was an unusual request, but frankly, obtaining affordable liability insurance was such a problem for nonprofits nation- wide at the time that we were willing to take what seemed like a significant risk to help solve the problem. My concerns that this fledging start-up wouldn’t be able to compete if commercial insurers once again started insuring nonprofits were clearly unwarranted!” –John Foster-Bey , Optimal Solutions Group A head for insurance. A heart for nonprofits. 13