The board of directors of the Nonprofits’ Insurance Alliance of California (NIAC) has declared a $3.7 million dividend to be paid to 2,707 nonprofit insureds in California. The dividend reflects better than anticipated claims experience in the policy years 2000 through 2002.
Based on individual member premiums paid during the dividend period, the plan rewards members for length of continuous coverage with NIAC as well as favorable claims experience. The largest check issued will be $82,000. The dividend will be paid to those that qualify upon renewal of their 2007-2008 policy.
Established in 1989, NIAC is a 501(c)(3) charitable risk pool. For more information, visit www.insurancefornonprofits.org.
Source: NIAC
Topics California
Was this article valuable?
Here are more articles you may enjoy.
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit 
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
