By Amy O’Connor – Insurance Journal, Feb. 10, 2020
Pamela Davis, president, founder and CEO for the Nonprofits Insurance Alliance (NIA), is on a mission to help nonprofits be successful at their mission by ensuring insurance is affordable and available.
She started the Nonprofit Insurance Alliance in 1988. Today it is comprised of four 501(c)(3) nonprofit organizations in 32 states serving more than 20,000 nonprofit organizations.
The group is limited, however, to writing only liability insurance in most states because as a risk retention group (RRG) it cannot write property or auto physical damage, which Davis says are “impossible to find on a standalone basis for small organizations.”
NIA has been able to work with various carriers to get nonprofits the property half of the BOP, but, in recent years some of those insurers have decided not to continue offering the coverage.
Davis said they sought other ways to offer the coverages, but when those didn’t pan out, she went to representatives of the U.S. Congress to develop a long-term solution. Through that process came H.R. 4523, the Nonprofit Property Protection Act, a bill to amend the Liability Risk Retention Act of 1986 to expand the types of commercial insurance authorized for risk retention groups serving nonprofit organizations.
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