What comes to mind when you hear the words tried, tested and true? For us, it’s the Chambers of Commerce Group Insurance Plan.
With spring underway, over 30,000 small to mid-sized businesses across Canada are receiving their annual Chambers Plan renewal package, and like clockwork over the past 40 years, the same news of plan stability is being delivered. For these businesses, old news is always good news.
How does this happen? Is it magic? Do the directors at the Chambers Of Commerce head office in Winnipeg have super powers that we don’t know about? Although we’d like to think so, the short answer is no…but what they do have is safety in numbers. Simply put, businesses under the Chambers Plan umbrella are pooled together, treated fairly and are not exposed to the “risks” of their own individual usage – the law of larger numbers works very much in favour of all who have “jumped in the pool”.
What does this mean for your small business? It means that you can have a flexible plan design that fits your budget and your intent. It means that rather than keeping the perks of your plan design a secret, you can shout it from the roof tops and encourage your employees to actually put their benefits to use. Most importantly, it means that you can be competitive with larger companies and use an employee benefits plan as means to attract and retain top talent (without fear of a drastic, unexpected premium increase at renewal time).
I know, I know…for the army of Chambers Plan clients already experiencing the stability of the plan and proof of minimal rate changes each year, you must be thinking it’s a no-brainer and that we sound like a broken record. And for those of you that aren’t, what are you waiting for?