Overview
What is National Workers Compensation Reinsurance Association Nfp?
National Workers Compensation Reinsurance Association Nfp is a nonprofit organization located in Chicago, Illinois. Its primary mission is to promote and represent the shared interests of workers' compensation insurance companies, aiming to enhance their business conditions. The association assists these companies in complying with state plans and facilitates their statutory obligation to participate in the involuntary market. It oversees and monitors the compliance of the quota share reinsurance arrangements with the state plans and the involuntary market laws of those states that have determined that the arrangement is in compliance with the state requirements.
Is National Workers Compensation Reinsurance Association Nfp legitimate?
National Workers Compensation Reinsurance Association Nfp is a legitimate nonprofit organization registered as a 501(c)(6) entity. National Workers Compensation Reinsurance Association Nfp 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
For more financial information, click here
What is the mission statement of National Workers Compensation Reinsurance Association Nfp?
The National Workers Compensation Reinsurance Association Nfp, often referred to as the Association, was established to promote and advocate for the common business interests among workers' compensation insurance companies. Its primary goal is to improve business conditions within this sector. The Association assists these companies in complying with state plans and facilitates their statutory obligation to participate in the involuntary market. Furthermore, the Association oversees the administration and monitors compliance of the quota share reinsurance arrangement with the state plans and the involuntary market laws in those states that have deemed it compliant with their requirements.
What is the revenue of National Workers Compensation Reinsurance Association Nfp?
National Workers Compensation Reinsurance Association Nfp's revenue in 2023 was $5,919,182.
Who are the executives of National Workers Compensation Reinsurance Association Nfp and what are their salaries?
Here are 15 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for National Workers Compensation Reinsurance Association Nfp?
National Workers Compensation Reinsurance Association Nfp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of National Workers Compensation Reinsurance Association Nfp
The National Workers Compensation Reinsurance Association Nfp, in its mission, aims to promote and represent the common business interests of workers' compensation insurance companies. This organization works tirelessly to improve business conditions within the industry. One of its key roles is to assist these companies in complying with state plans and facilitates their statutory obligation to participate in the involuntary market.
Beyond these responsibilities, the National Workers Compensation Reinsurance Association Nfp plays a crucial role in overseeing and monitoring the administration of the quota share reinsurance arrangement. This arrangement is in compliance with the state plans and involuntary market laws of those states that have determined it to be so. The association ensures that this arrangement adheres to the state requirements, thereby maintaining transparency and order within the workers' compensation insurance sector.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The National Workers Compensation Reinsurance Association Nfp plays a critical role in enhancing the operational landscape for workers' compensation insurance companies. By overseeing the administration and compliance of quota share reinsurance arrangements, the organization ensures that these arrangements align with state plans and involuntary market laws. This oversight is essential for maintaining the integrity of the workers' compensation system and improving business conditions within the industry.
Additionally, the association actively promotes collaboration among its member companies, reinforcing their common interests. By facilitating compliance with statutory obligations, it supports insurers in navigating the complexities of the involuntary market. This not only aids individual companies but also contributes to a more stable and efficient workers' compensation framework across states.
Through its efforts, the association fosters a cooperative environment that ultimately benefits employers, employees, and the broader community by ensuring reliable access to workers' compensation insurance. The NWCRA's work in this arena is vital to creating a fair and sustainable insurance market, enhancing the overall business climate for workers' compensation providers.
This information is meant to be a general summary of National Workers Compensation Reinsurance Association Nfp. 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 2023.
- Investment Income: $40,214
- Gross Receipts: $5,919,182
Assets and Liabilities:
- Total Assets: $1,330,032
- Total Liabilities: $1,330,032
- Net Assets: $0
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2010
Principal Officer
Brian Melas
NTEE Category
Code: S41 - Community improvement
If you are a representative of National Workers Compensation Reinsurance Association Nfp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.