California Self-Insurance Pool To Reward Nonprofit Members with $1 Million
NonProfits' United, California's oldest transportation self-insurance pool for nonprofit organizations and agencies, is celebrating its 10th anniversary by returning a total of $1 million to eligible members over the next three years as part of its newly established Excellence in Safety Awards.
It is the first time in California history that a nonprofit commercial insurance pool has returned money to its members.
"After 10 years, our member-owned, member-governed pool has achieved a level of financial stability that allows us to share this reward with those who helped to make it possible," said Shari Deutsch, Executive Director. NonProfits' United provides vehicle insurance and services to 250 nonprofit members in the state, including senior centers, food banks, health clinics, churches, and disabled services programs.
"Over half of our current pool members will be receiving an award," Deutsch said. She explained that the size of the monetary awards, which are calculated based on pool loss ratios, range from 10 percent to 50 percent of the recipient's policy costs. "Their resulting low losses benefit everyone in the pool, allowing us to continue offering competitive rates and unsurpassed service."
Among the award winners are Family Services Association of San Diego, United Cerebral Palsy Association of Stanislaus County, Resources for Independent Living, Westside Food Bank, and Glendale Association for the Retarded. They and other members who had pool loss ratios under 40 percent during policy year 1994-95 and continued low losses thereafter will be honored at a series of award luncheons to be held throughout the state.
NonProfits' United, formerly Paratransit Insurance Corporation, was created 10 years ago in response to the insurance crisis of the early and mid-1980s. During those years many NonProfits' saw their commercial auto insurance premiums increase by up to 200 percent without any corresponding increase in their claims. NonProfits' United was founded on the belief that NonProfits' could find creative, effective solutions to their insurance needs.
"The success of NonProfits' United proves that pooling is still a valid alternative to traditional insurance," said Deutsch. "Pooling allows NonProfits' to leverage their resources and control their own destiny."
Headquartered in Oakland, NonProfits' United's quality, cost-effective insurance services for nonprofit organizations include expert claims settlements, driver instruction, safety visits, and legislative advocacy.