Christian Brothers Services History
Christian Brothers Services is a nonprofit organization that administers cooperative programs in the areas of health, retirement, property/casualty, technology, school management and consulting services to church organizations. Founded in 1960 by Brother Joel Damian, FSC, Christian Brothers Services began as a mutual cooperative purchasing group for Chicago area high schools conducted by the De La Salle Christian Brothers. Under Brother Damian’s leadership, the Brothers realized that pooling the financial resources and risk exposures of the schools would allow both the congregation and the individual institutions greater financial strength and leverage to purchase better coverage, with higher limits, at significantly reduced costs; benefits that commercial insurance carriers could not offer nonprofit organizations. Over time, the company has grown to administer and serve 7 trusts, which provide a variety of programs to congregations, organizations, and dioceses both in the United States and Canada.
Christian Brothers Services and these trusts are not insurance companies but are plans in which member organizations pool their financial contributions to realize greater financial strength and increased purchasing power, which translates to better coverages at significantly reduced rates. The approach of pooling risk and participating in self-funded plans for health, retirement and property/casualty help to protect member organizations from the large premium fluctuation which can often be experienced when purchasing traditional insurance. In addition, there is more flexibility within a trust plan, from greater choices of coverages and benefits to a vast array of risk management services and health benefit programs. Christian Brothers Services is the administrator for the trust plans: however, each trust is governed by its own board of trustees elected from participating member organizations.
CBS History Presentation.