Santa Cruz, CA, April 12, 2018 (GLOBE NEWSWIRE) -- The board of directors of the Nonprofits Insurance Alliance of California (NIAC), a member of the Nonprofits Insurance Alliance Group, has approved a $3 million dividend to be paid to its qualifying members.
The Nonprofits Insurance Alliance of California as well as all other companies in the Group are unusual as insurance carriers as they are 501(c)(3) charitable nonprofits, and as such, dividends are payable to qualifying members rather than to shareholders.
Based on individual member premiums paid during the dividend period, the NIAC dividend plan rewards members for length of continuous coverage, as well as favorable claims experience.
This year’s dividend will be paid to qualifying members upon renewal, between June 1, 2018 and May 31, 2019. Over the past 12 years, dividends declared by NIAC have totaled more than $41 million.
About the Nonprofits Insurance Alliance Group
The Nonprofits Insurance Alliance Group is a group of 501(c)(3) nonprofit insurance organizations that provide stably-priced liability insurance and risk management resources exclusively to other 501(c)(3) nonprofits. The Nonprofits Insurance Alliance of California is a member company of this Group.
Nonprofits Insurance Alliance of California Issues $3M Dividend to Member 501(c)(3) Nonprofits
| Source: Nonprofits Insurance Alliance Group