Nonprofit Insurance Costs, Managing the Rising Tide
Learn How to Reduce Your Insurance Costs
As nonprofits navigate their post-pandemic finances, every budget line is seeing rising costs. Insurance is essential for nonprofits, so are there ways to manage rising premiums?
Join us for this session to learn from independent insurance broker David Madara with OceanPoint Insurance about the factors that drive premium costs and show strategies to assure you are paying the best available rate. Gain insight into where your premium dollars are best spent to maximize coverage and protection. Learn tips on communicating about insurance to your board and internal team while empowering them to implement risk management best practices.
This workshop will provide practical takeaways on topics including:
- Obtaining “quotes” – use your current broker or involve several, what benefits you most
- How best to prepare for the process of getting proposals and how often should I look around
- How to prioritize spending between the many policy types you need
- What is a Total Cost of Risk and how it enables good buying decisions
- What are the most important coverages in these turbulent times
- How do you best communicate insurance issues with your board, your team, others
- How has COVID affected premiums and coverages
- How do I insure special events at a reasonable cost
- Where do I start
Presented by: The Grantmakers Council of Rhode Island
Speaker: David J. Madara, CPCU, AAI, CRIS, Client Relationship Manager, OceanPoint Insurance
When: 5th April, 2022, 9 am to 10 am (EST)
Please register at EventBrite
About David J Madara, CPCU, AAI, CRIS
David is a career insurance broker who has managed risk and placed insurance for business clients in many industries for over thirty years with a focus on the nonprofit mission-based sector. He works directly with clients to identify business risks, prioritize those that could derail the mission, and secure insurance coverage to protect the organization assets and mission. Nonprofits have unique challenges of finite resources, leadership wearing many hats, and the need to answer to multiple audiences of clients, board, donors and regulators. David understands these challenges and brings it to you in simple understandable ways.
About the Grantmakers Council of Rhode Island
Grantmakers Council of Rhode Island (GCRI) was founded in 2003, as a network to support staff in grantmaking organizations to maximize the effectiveness of their philanthropic work. GCRI continues to offer capacity building, professional development and networking opportunities for staff in grantmaking roles, but has expanded to provide:
- connection to national philanthropic resources;
- opportunities for collaboration and cross-sector partnerships;
- support for employee engagement and corporate social responsibility initiatives;
- increased visibility and a gathering place for the philanthropic sector; and
- outreach to engage other organizations in the work of community investment.
In 2015, GCRI entered into a partnership with United Way of Rhode Island, vastly expanding GCRI’s capacity to support the philanthropic sector in the state, as well as providing additional resources and connections to nonprofits engaged in the work of community building throughout Rhode Island. GCRI remains a separate 501(c)3, but our offices are in the United Way building on Valley Street in Providence.