Fiscal Sponsor Vendor Recommendations

Oy. Sorry to hear that @Shava Lawson! Who is the underwriter of the policy - and has it changed in the last few years?

@Andrew Schulman I don’t know about last year, but I do know it’s changed this year to a new one, so that might be the main issue. We’ve even tried to work with them on a template that we use for certain agencies. Even with that in place, COI’s can come back to us wrong.

Do whatever you need to do to NOT GET DROPPED. I’m not sure we’ve had funky things happen with renewals but we do expect a HUGE price increase this year.

@Oliver Hack Our renewal already happened on 8/1, so we are good for this year. I thought I saw that the charges were similar to last year, but we budgeted for a 30% increase just to be safe! Hoping we won’t need to spend that though!

Hi Shava Lawson, we did have troubles in March with our renewal, but our understanding was that it wasn’t Cal Nonprofits, but rather NAIC, who was undergoing a big system change, that was the root of the difficulties.

@Pam Campbell This is good to know, I hope they square that up soon, it has been painful for us. We are hoping to shift our renewal to fall vs. summer since it’s such a busy time of year for most of our projects (summer time events are hopping!) and having that renewal date fall smack dab in the middle of event planning for projects is a drag.

@Shava Lawson I echo what Pam said. The issue was with NAIC this year. We actually switched TO Cal Nonprofits because they understand fiscal sponsorship much better than our local insurance agency did. Saved thousands. However, the industry itself is more challenging and unpredictable than it has been previously, in my opinion. We had a project dropped this year for the first time ever. Try very hard to stay in the good graces of the agency. You don’t want to lose insurance for your entire organization.

I will say that - and this was years ago - at one point I had trouble with NIAC and CalNonprofits (in their role as broker) and couldn’t tell who was slowing things down. That time, it was the broker - we switched brokers and things improved. But now I’m still with that same, faster broker and NIAC is slow as heck with their endorsements, I’m waiting on around 20 of them, and have been waiting in many cases for 6+ weeks

@Nathan Hewitt Yikes, that’s not great! Wonder if they are just maxed out and don’t have the capacity to handle the volume? That’s a long time to wait for endorsements!

Yeah, I certainly hope so. It’s probably time for me to give them a call myself.