Managing Board Members
When talking to Dealers about joining a Group Captive, they often say, “I don’t want to be in a group!” Or, “I’m better than the rest of the industry!”
Well, the fact is…you’re in a group now! You just have no control over it. And, as far as being better than the rest of the industry, that may be true. But, if you cannot control who’s in the group, that ‘’rest of the industry’’ can drag you down and send your premiums skyward.
With a Member Owned Captive, the Members determine who’s in the group and who’s not. Membership is restricted by a pre-determined set of qualifications and subject to approval by the Board of Directors…the existing Members. Moreover, if a Member runs into trouble with claims, the Captive can designate additional Loss Control to help resolve the issues. But, if poor controls by Management is the issue, or if the problems continue, the Board can ask the Member to leave the Captive.
Ever tell your Insurance Company to kick the misbehavers out?
Explore Captives…the difference is refreshing. Take Control of your Insurance Program.
Learn more about DMG on our website: www.DealerManagementGroup.net
Watch the full video series on our YouTube Channel.