Overview
What is Northwestern Arizona Regional Insurance Company?
Northwestern Arizona Regional Insurance Company is a specialized insurance provider based in Phoenix, Arizona. The company primarily focuses on offering professional liability, general liability, employment practices liability, and directors and officers' insurance coverage, adhering to the provisions of Arizona Revised Statutes 20-1098. Currently, they provide insurance coverage to Kingman Regional Medical Center, a nonprofit organization recognized as exempt from income taxes under Section 501(C)(3) of the Internal Revenue Code. The insurance company operates under the governance of a board of directors, and its daily operations are managed by Ashton Tiffany, LLC, for an annual fee. The services provided by the administrator encompass underwriting, policy issuance, accounting, record-keeping, regulatory liaison, and new program development.
Is Northwestern Arizona Regional Insurance Company legitimate?
Northwestern Arizona Regional Insurance Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northwestern Arizona Regional Insurance Company submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Northwestern Arizona Regional Insurance Company?
Northwestern Arizona Regional Insurance Company's primary role is to offer professional liability, general liability, employment practices liability, and directors and officers' insurance to its parent organization, Kingman Hospital, Inc. The company is committed to providing these insurance coverages in compliance with the provisions of Arizona Revised Statutes 20-1098. It currently provides insurance coverage to Kingman Regional Medical Center, which is recognized as exempt from income taxes under Section 501(C)(3) of the Internal Revenue Code. The organization serves as a wholly-owned subsidiary of Kingman Hospital, Inc., with its activities being funded through a contribution from the hospital. Northwestern Arizona Regional Insurance Company is governed by a board of directors, while daily operations are handled by an administrator in exchange for an annual fee. The administrator is responsible for underwriting, policy issuance, accounting, record-keeping, regulatory liaison, and new program development.
Who is the CEO of Northwestern Arizona Regional Insurance Company?
Krystal Burge is the Secretary of Northwestern Arizona Regional Insurance Company. The CEO's salary of Northwestern Arizona Regional Insurance Company is $0 and their total compensation is $0.
What is the revenue of Northwestern Arizona Regional Insurance Company?
Northwestern Arizona Regional Insurance Company's revenue in 2022 was $2,364,262.
Who are the executives of Northwestern Arizona Regional Insurance Company and what are their salaries?
There 5 volunteers at Northwestern Arizona Regional Insurance Company.
Here are 5 key members and their salaries (Northwestern Arizona Regional Insurance Company's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Northwestern Arizona Regional Insurance Company?
Northwestern Arizona Regional Insurance Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northwestern Arizona Regional Insurance Company
Northwestern Arizona Regional Insurance Company, often abbreviated as NARIC, is dedicated to providing various types of insurance coverage to its parent organization, Kingman Hospital, Inc., which operates as Kingman Regional Medical Center. This company, established under the provisions of Arizona Revised Statutes 20-1098, specializes in offering professional liability, general liability, employment practices liability, and directors and officers' insurance. NARIC's mission is to safeguard Kingman Hospital, Inc. from potential financial losses stemming from various liabilities.
Fundamentally, NARIC serves as a protective shield for its parent organization, ensuring that it can continue its crucial medical services without being undermined by potential lawsuits or financial liabilities. By providing comprehensive insurance coverage, NARIC allows Kingman Hospital, Inc. to focus on its primary mission of delivering quality healthcare services to the community. It's important to note that NARIC is a wholly-owned subsidiary of Kingman Hospital, Inc., and its operations are overseen by a board of directors, with day-to-day operations managed by an administrator, Ashton Tiffany, LLC, in exchange for an annual fee.
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Impact
October, 2024
Northwestern Arizona Regional Insurance Company primarily influences the healthcare landscape in the region by offering essential insurance coverage tailored to the needs of healthcare organizations, particularly the Kingman Hospital, Inc., also known as Kingman Regional Medical Center. This insurance includes professional liability, general liability, employment practices liability, and directors and officers' insurance. By providing this comprehensive coverage, the company ensures that the hospital can operate with reduced financial risk, allowing it to focus on delivering quality care to the community.
The company plays a vital role by mitigating potential legal and financial challenges that can arise from malpractice claims, workplace disputes, or governance issues. This support enhances the hospital's stability and confidence, which is crucial in maintaining high standards of health services and patient safety.
Furthermore, as a wholly-owned subsidiary of Kingman Hospital, Inc., Northwestern Arizona Regional Insurance Company is deeply integrated into the healthcare system, ensuring that the critical needs of its parent organization are met efficiently. This collaboration facilitates effective risk management strategies within the hospital, exemplifying how specialized insurance services directly contribute to the overall health and well-being of the community served by the hospital.
Overall, the impact of Northwestern Arizona Regional Insurance Company extends beyond mere financial protection, fostering a reliable healthcare environment where both staff and patients can thrive without the constant worry of potential liabilities.
This information is meant to be a general summary of Northwestern Arizona Regional Insurance Company. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $344,370
- Program Service Revenue: $2,019,892
- Gross Receipts: $8,140,608
Assets and Liabilities:
- Total Assets: $16,002,570
- Total Liabilities: $6,097,127
- Net Assets: $9,905,443
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS
Revenue
$2,019,892
Organization Details
Founding Year
2006
Phone
(602) 222-2108Principal Officer
Krystal Burge
Main Address
CO RPA 333 E OSBORN RD 300, PHOENIX, AZ, 85012
NTEE Category
Code: E11 - Health
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