Insurance Review Helps Childcare Center

Savings Help Achieve Childcare's Mission

A non-profit Childcare Center in Florida that has served the needs of children for over 40 years, asked Expense Reduction Analysts (ERA) to perform an insurance review.

The mission of the Childcare Center is to strengthen and enhance the lives of children and their under privileged families. To assist with their mission, ERA completed an independent and unbiased analysis to improve coverages, broker services, and reduce premiums.

Benefits of the ERA Insurance Review

ERA consultants with underwriting and risk management experience restructured the Childcare Center's general insurance and workers compensation policies to benefit the client (not the insurance company). Additionally, the client achieved the following benefits:

Assisted the Chairman of the Board and other board members by participating in the broker interview and selection process.

  • Identified broker compensation and achieved transparency. Previously, the broker had undisclosed commissions.
  • Negotiated broker services, including claim reviews and loss control services, to prevent and mitigate future losses, as part of the broker’s compensation.
  • Obtained savings of 15% on the workers compensation policy by moving it to an insurance company that offers lower rates, plus safety and drug free credits. Additional changes to the policy eliminated significant audit payments at the end of the policy term.
  • Improved coverages and premium savings on the property and liability policies by 10.6%.

The board was able to work for the benefit of the Childcare Center to achieve coverage improvements and cost savings they may not have been able to achieve without the independent and impartial advice of Expense Reduction Analsyts.

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