Sarah owns a small manufacturing business in Ontario. For years, she’s built strong relationships with suppliers and customers across the border. Her products, a line of eco-friendly packaging materials have gained a loyal following. But when new tariffs were announced, everything changed. The cost of importing raw materials surged overnight. Her margins shrank. She faced an impossible choice: raise prices and risk losing customers or absorb the costs and watch her profits disappear.
Sarah’s story is not unique. Across Canada, small businesses are grappling with the ripple effects of escalating tariffs. For associations that serve these businesses, the pressure is mounting:

• How do you support your members through financial strain?
• How do you help them cut costs without sacrificing what matters most?

One answer might be hiding in plain sight, your group insurance program.

Insurance is often viewed as a necessary but fixed expense. Yet, many associations are sitting on untapped potential when it comes to their group insurance programs. By taking a closer look at coverage options, pricing structures, and alternative models, organizations can unlock savings that directly benefit their members.

For small business owners facing rising costs, every dollar saved counts. As an association leader, you can provide real relief by ensuring your insurance program is working as efficiently as possible. Here’s how:

• Ensure Coverage Matches Current Needs – A business’s insurance needs change over time. Some members may be over-insured, paying for coverage they don’t need, while others may be underinsured, exposing themselves to unnecessary risks. A review ensures alignment with actual needs.
• Negotiate Competitive Rates – Associations have the advantage of group buying power, but without regular reviews, members may be missing out on better pricing. Engaging with an experienced advisor can help secure more competitive rates.
• Explore Alternative Insurance Models – Self-funded or captive insurance options may offer greater flexibility and cost savings, particularly for associations with a stable membership base.
• Educate Members on Cost-Saving Strategies – Many business owners aren’t aware of small changes that can lead to big savings. Helping members understand deductible adjustments, claims management, and risk-reduction strategies empowers them to make smart financial decisions.
• Align with Market Conditions – The insurance landscape is always evolving. A policy that made sense two years ago may no longer be the best option. Associations that proactively review their programs ensure they continue to offer the best value to members.

For small business owners like Sarah, the next few months will be critical. The impact of tariffs is still unfolding, and businesses are making tough financial decisions every day. As the Canadian Federation of Independent Business (CFIB) warns, small businesses are already experiencing “higher costs, cancelled contracts, and lower demand” due to these tariffs (CFIB, March 4, 2025).

Especially in times of uncertainty, Associations have an opportunity to support their members in meaningful ways. Reviewing your insurance program isn’t just about reducing costs. It’s about ensuring the financial stability of the businesses that drive our economy forward.

At Dion Strategic, we understand the challenges associations face because we’ve walked this path with organizations like yours. We know that cost-cutting measures must be strategic, not reactionary. That’s why we specialize in helping associations uncover hidden opportunities within their insurance programs so they can provide tangible value to their members when it’s needed most.

Sarah’s business is resilient. With the right support, she’ll find a way forward. And so will your members. Let’s make sure small businesses have every tool available to navigate these uncertain times.

Let’s talk about how we can help. Contact a member of the Dion Strategic team today to explore how a review of your insurance program may provide immediate value to your members.