Typically, we see that many nonprofit risks have a common ex-date of July 1. This is timed to coincide with the end of their fiscal year, and with all likelihood, the budget is established and the funds for insurance premiums are available.
However, 2022 presents a year of potential instability. We have all seen the headlines about inflation, which impacts the increased cost of construction. Markets have changed their appetites or approach due to changes in laws impacting statutes of limitations, such as the Child Victims Act or Adult Victims Act, which has greatly increased the exposure for organizations working with vulnerable populations. Add in the impact of social inflation and nuclear verdicts, and it is no wonder so many nonprofits are being saddled with rate and condition changes or potential notices of nonrenewal.
USLI can help you with your last minute 7/1 nonprofit opportunities. We can consider over 500 classes of nonprofits, including youth and adult sports leagues, business members groups, chambers of commerce, youth programs, animal shelters/rescues, community centers, thrift stores, food banks/soup kitchens, mental health counseling and many more!
Why Choose USLI for Your Nonprofit Business:
- Stability and expertise: USLI has 30 years of experience writing nonprofits, A++ paper and admitted products in most states
- Broad appetite: USLI can consider a broad range of nonprofits, including startups and first-time buyers
- Special events: USLI includes events with most of our products, and we have an option to blanket special events under our Charities and Business Association Guard product
- Package options: We can offer package options including property, general liability, abuse and molestation, professional, crime and directors and officers/employment practices liability
- Value-added services: Quick quote turnaround with the following quote options: Instant Quote at 888-SPD-USLI, quote online or send us an application/minimal rating information; Business Resource Center offers numerous discounted and free services; and our Customer Toolkit offers free customizable marketing materials
