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Pamela Davis, NIA's Founder, President and CEO, was a graduate student at UC Berkeley during the liability insurance crisis of the 1980s, when insurance companies raised their premiums drastically, reduced their coverages, and left some segments of the market, including many nonprofits, completely uncovered. [2]
In 1987, Davis was a master's degree candidate in Public Policy at University of California, Berkeley.Her master's thesis, supported by the California Community Foundation and the Conrad N. Hilton Foundation, documented the effect of the mid-1980s liability insurance crisis on nonprofit organization's ability to obtain liability insurance.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
General liability: This type of insurance covers lawsuits involving bodily injury or property damage. Professional liability: This insurance is sometimes called "errors and omissions coverage."
The liability insurance crisis of the 1980s was a watershed moment in the U.S. insurance industry, marked by a sharp rise in the cost of liability insurance and the widespread unavailability of certain types of coverage. The crisis affected numerous sectors, from construction and daycare centers, to municipal governments and non-profit ...
In 1999, the company acquired Texas-domiciled National Specialty Insurance Company (NSIC), an insurance company then licensed to write business in 21 states, and later expanded its licensing to 50 states and D.C. In 2006, the company formed Delaware-domiciled United Specialty Insurance Company (USIC) to write coverage on an excess and surplus ...
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