For nonprofit organizations, obtaining adequate insurance coverage for their needs has been difficult in the past and continues today due to market dynamics. The cost of property and casualty insurance has been on the rise and it now can potentially bring far-reaching consequences. With a national health emergency in the forefront, the nonprofit organizations – especially small and midsized – are seeing large impacts in the coverage they can secure. Without additional support for the nonprofit insurance market, there will be hundreds if not thousands of nonprofit organizations struggling to pay higher premiums with limited and/or shrinking budgets, that is – unless their coverage is simply canceled outright.
