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Agents Can Help Nonprofits Put Claims in the Right Place

As nonprofit organizations struggle to balance their missions against their budgets, they often feel as though they have a twin-size sheet for a king-size bed.

By William R. Henry Jr. | Updated on February 02, 2012

As nonprofit organizations struggle to balance their missions against their budgets, they often feel as though they have a twin-size sheet for a king-size bed.

Grants and private contributions are fewer and smaller, and public funds are short. Meanwhile, the needs that these organizations respond to are as great as ever, and often increasing.

Nonprofits have learned to economize: cutting overhead where possible, using more volunteers to extend their human resources and even merging with other organizations that share a similar mission.

Nonprofits also can look to their insurance and risk-management expenses to economize by preventing future expense increases. But few nonprofit leaders are aware of how to do so. Insurance agents are in the best position to let nonprofits know about an innovative way to be efficient with insurance and risk-management budgets.

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