Once nonprofits find NIA, they rarely leave. Our 95% retention rate is well above the industry standard.
As a nonprofit ourselves, we have no stockholders looking for bottom line profits. Our sole mission is to benefit 501(c)(3) nonprofits we insure.
Since our beginnings 30+ years ago, the Nonprofit Insurance Alliance has been committed to stable and fair pricing. Our members enjoy peace of mind, knowing they won’t be subjected to the dramatic and unanticipated price swings that can happen with for-profit insurance companies. Because many nonprofits operate on tight budgets planned far in advance, they value our commitment to protect them against unexpected premium hikes. That’s one of the reasons why 94% of our members renew with us every year.
The Nonprofits Insurance Alliance provides liability insurance only for 501(c)(3) nonprofit organizations. Coverage is currently available in the following states: Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Texas, Utah, Vermont, Virginia, Washington and Wisconsin.
If your insurance is coming up for renewal, it’s a good time to review and evaluate your options—and make sure your coverage fits your current needs. Have there been any significant changes in your operations, in the events you host, in the people you serve? Have you started a new program or acquired a new property? Hired new staff? These and other factors may affect your insurance requirements.
It’s also a good time to examine your risk management program. Do you have the resources you need to reduce the risk of injury or accident on your premises? Does your current insurance company provide free training, for example, to make sure your volunteers are trained in safety and risk reduction?
If you are a new nonprofit organization or expect soon to receive your 501(c)(3) status, this is the ideal time to learn about your liability options. Fill out the Get a Quote form and take a moment to review our Coverages page.
No one ever wants to think about the bad things that can happen. But unfortunately, they do—someone slips or falls on your premises, a volunteer is injured in the line of assigned duties, an employee or officer is accused of misconduct. Depending on the financial hardship or damage to your reputation that results, your nonprofit mission may be seriously jeopardized. Be safe, not sorry. It doesn’t cost you anything to learn about your insurance options. If you operate an organization, your clients, employees, volunteers and the public deserve to know that you can compensate if you happen to cause injury.
The most common way nonprofits get insurance is by working through licensed independent brokers. Brokers help nonprofits determine the types of coverages they may need, and can shop the market and get them quotes for those coverages.
Brokers are paid a commission by the insurance company to service the account fortheir nonprofit client. Though not common, some brokers charge a fee to service the policy for the nonprofit in addition to receiving a commission.
One broker can provide you with quotes from multiple insurance carriers. Presentedwith the same information on the application for insurance, the price of insurance should not vary depending on which broker requested the quote.
More important than location is a broker who is knowledgeable about nonprofit insurance, has attention to detail, and who responds in a timely manner to emails and phone calls. A good broker who specializes in working with nonprofits can provide nonprofits with a high level of service and knowledge of the nonprofit marketplace - regardless of where they are located!
It can take up to 5 days to receive a quote. Here’s why. To accurately determine thetype of coverage you need, the risks of your organization must be evaluated which involves several steps. If you submit your basic information on the Get a Quote form, we provide it to a broker with experience in working with nonprofits (or one that you specify). The broker will then contact you and request additional information about your size, your operations, and key factors like whether or not you have volunteers, host events, or serve children or the elderly. This information will be included in the application submitted by the broker. Our team must then review, analyze and price the risk presented by your operations. Then your broker will develop a plan of options and discuss them with you.
Applications for insurance from the Nonprofits Insurance Alliance must be made through an insurance broker. To inquire about whether your broker is authorized to work with us, please email us or call 800-359-6422. If you would like a referral to aninsurance broker we work with in your area, proceed to Get a Quote.
We look for ways to cover claims within our policy, not for ways to decline them. If liability is clear when a claim is presented, we pay it promptly. We are partners withour members, and take seriously the trust they place in us to protect them. However, if liability is uncertain, we will thoroughly investigate and resolve the claim in a manner that is both conscientious and practical.
NIA recently developed a Communicable Disease insurance product to offer some protection to these entities. Pooling the member risks together, we were able to come up with an affordable option.
The coverage is adequate, yet limited. We wanted to offer members something theycould afford that would protect them well. By keeping limits within a reasonable range ($250,000 of limit per year, including defense and indemnity), we could keep the premiums within reach.
That limit also helps keep members off the radar of plaintiff’s attorneys. In an atmosphere in which people and companies are looking for remediation, keeping limits lower gives members a modest amount of coverage and defense, and avoids opportunism.
Communicable disease coverage includes third party liability damages for bodily injury, property damage or personal and advertising injury stemming from a communicable disease event. It also covers an act, error or omission by or on behalfof the insured for actual or alleged transmission, testing, failure to prevent spread, failure to report the communicable disease to authorities, and employees or new hires who transmit or are alleged to be infected with a communicable disease.
Because NIA covers nonprofit member organizations exclusively, the products we have developed for members were created out of a need the traditional market wouldn’t fill. Over the years, we have had to innovate to protect member
organizations with coverages for risks that other markets believe are uninsurable risks, such as sexual abuse.
Commercial carriers sometimes compete for nonprofit business and offer cheap rates during “soft markets,” that are later increased when the market changes. Unlike commercial carriers, the Nonprofits Insurance Alliance is committed to maintaining stable and appropriate pricing. We do this by relying on our extensive database of accident and injury claims which enables us to more accurately assess each nonprofit’s individual risk and set appropriate coverages.