Nonprofit Leaders Save Big With This Insurance Secret
Real-World Examples and Cost Savings
Many nonprofits have successfully reduced their insurance costs by following these strategies. For instance, a mid-sized nonprofit organization in California managed to cut its insurance expenses by 20% by participating in a group purchasing program and working with a specialized broker. As a result, they were able to allocate more funds to their core programs and services.
According to the Nonprofit Risk Management Center, organizations that actively manage their insurance portfolios can experience savings of up to 30% annually1. This demonstrates the significant impact that strategic insurance management can have on a nonprofit's bottom line.