With rising insurance costs and limited coverage options, proactive risk management can be a powerful tool to help Washington nonprofits keep their doors open and serving their community.
Washington is home to a robust and diverse nonprofit community, but those organizations aren’t immune to the economic conditions affecting nonprofits across the country.
Crucial funding sources are disappearing. Budgets are strained as inflation drives up operational costs. Insurance costs are rising too, and options for affordable, appropriate coverage are often limited.
Despite increased demand for their services, more and more nonprofits are being asked to tighten their belts and do more with less.
In these conditions, every dollar counts. So, the last thing any nonprofit wants is a risk turning into a costly, damaging problem, especially when it could have been prevented.
Nonprofits want insurance that understands them. That’s why more than 700 Washington nonprofits count on Nonprofits Insurance Alliance (NIA): They know their insurance provider is a nonprofit, just like them.
Washington Nonprofits Weigh In
NIA has served nonprofits in Washington for over 25 years, providing nonprofit-specific coverages, guided by nonprofit values, that reflect how nonprofits actually operate.
Here’s what just a few of them had to say:
Advocates Recovery Services Housing (Lynnwood, WA)
“Over a year ago, we discovered NIA through a referral. Little did we know, it would be one of the more important decisions we would make.
Our experience, from our first call to making additions to our policy, has been top shelf. Several on our management team experienced insurance in the for-profit sector; all explain that NIA meets or exceeds that experience.
In an environment that is bogged down with high costs and inflation, making it difficult for well-funded organizations to operate, NIA has made it possible for us to seek and secure desperately needed grants requiring insurance.
Its services, thanks to the environment in which we operate, have become critical to our very operation and survival.”— Esther Riley, Vice President
Metropolitan Performing Arts (Vancouver, WA) “NIA is a reliable, reasonably priced insurance provider that is flexible and offers a wide variety of coverages. NIA has knowledgeable teams working hard to make sure your organization has what it needs.” — Chulina Wheeler, Executive Office Manager
On the Road with PartnerCafe (University Place, WA) “Insurance is scary because by its nature, you are asked to pay a fee to protection you don’t know and hope you never need. I never felt that NIA was taking more than it gave. NIA gives nonprofits all it can to help them grow and learn!”— Cheri Denise Coleman, Founder, Executive Director, and Interim President
Coverage Designed for Nonprofits
Nonprofits face risks unlike those a for-profit business would face. Whether it’s public-facing services, volunteer management, or boardroom decisions, nonprofits’ work includes risks that can create serious legal and financial exposure.
All nonprofits need insurance, but all too often find themselves with coverage that’s:
- Designed for businesses, not nonprofits.
- Inadequate for their mission work.
- Ill-fitting “one-size-fits-all” policies.
- Nonrenewed without explanation or warning.
- Deceptively priced (low introductory rates followed by a massive premium hike).
NIA provides coverages tailored especially for those nonprofit exposures.
- Commercial General Liability coverage helps protect organizations when claims arise from their day-to-day operations, as well as during certain applicable events.
- Social Service Professional Liability coverage helps nonprofits that provide professional services and direct support, such as care or counseling. This coverage reflects the responsibilities carried by nonprofit staff and volunteers.
- Board & Executive Liability coverage focuses on nonprofits’ leadership, financial, and employment-related risks, and includes customizable options for: Directors & Officers (D&O) Liability
- Fiduciary Liability
- Employment Practices Liability
- Commercial Auto coverage addresses risks for nonprofits that rely on vehicles, with options available for organizations that have their staff using their personal vehicles for mission-related work.
Risk Management Beyond the Policy
Many nonprofits pay a lot of money for risk management services. If your nonprofit is insured by NIA, risk management support is included at no additional cost for many services, and some resources are available at a highly discounted rate.
NIA understands the unique needs nonprofits have, and risk management services are created with nonprofit operations in mind, helping your people manage risk in practical ways and keep their focus on delivering their mission.
Examples include:
- Risk management consulting to help your nonprofit identify and address key risks, before they can harm your mission.
- Live or on-demand webinars on risk management and changes to the legal and regulatory landscape as they relate to nonprofits.
- Software to help you create a customized risk management plan that reflects your nonprofit’s priorities and culture.
- BOARDnetWORK, a tool to support board communication and organization.
- Risk management reading materials and sample forms designed for nonprofits.
Depending on eligibility, additional services may include discounted screening services, an employee handbook builder, harassment prevention training, and driver safety training.
Looking Ahead
Washington nonprofits deserve insurance that supports their mission and stays aligned with day-to-day operations.
In other words, they want insurance from someone that understands their organization, supports their work, and gives them tools to help them succeed.
The companies that make up Nonprofits Insurance Alliance (NIA) are insurance providers, but they’re also nonprofits.
When coverage reflects nonprofit realities and is paired with clear guidance, nonprofits can focus on serving their communities.