Nonprofit Insurance Co-op Turns 25
December 15, 2014 The NonProfit Times
The Nonprofits Insurance Alliance of California (NIAC), a nonprofit organization that established a risk pool for organizations in California that has spread across the country, has turned 25.
The organization was started by then-University of California at Berkeley graduate student and current president and chief executive officer Pamela Davis. Founded in 1988 and backed by foundation support of $1.3 million, the NIAC moved into its second-floor offices in Santa Cruz, Calif., in 1989. A few hours later the Loma Prieta Earthquake struck.
“Rattled with the possibility of having no power, water or phone service for weeks or months, things looked pretty bleak,” said Davis, “but we were determined.” A few weeks later, NIAC had its first nonprofit member, Food First.
It is now a group of insurance cooperatives that serve more than 14,000 nonprofits in 32 states plus the District of Columbia. The cooperative employs 90 people and has assets of $400 million. The cooperative has returned $33 million in dividends to nonprofits in California, according to the firm.
The organizations that make up the Nonprofits Insurance Alliance Group are: Nonprofits Insurance Alliance of California (NIAC), Alliance of Nonprofits for Insurance, Risk Retention Group (ANI), National Alliance of Nonprofits for Insurance (NANI), and Alliance Member Services (AMS).
To learn more, visit www.insurancefornonprofits.org