Why Would I Want To Share In Ownership Of An Insurance Company With Strangers?
There are several responses to this question. First, without getting together with other good risks, your insurance premiums would not be large enough
to realize these benefits. The program is structured however so that each member’s “account” is separate from the others. Second, remember that your current
insurance costs are a factor of the strangers that buy from the same company as you. Plus you are currently grouped with many “bad” risks. In the captive,
your costs will be based almost entirely on your own experience and you will be together with only “cream of the crop” companies. Third, every new member
must be pre-approved by the insurance carrier issuing the policy, the reinsurers and the underwriting committee, consisting entirely of current members.
Lastly, most of the members find the networking at board meetings to be one of the highlights of the program. By its own nature, the group consists entirely
of successful entrepreneurs from around the country.
This All Sounds Too Good. What Is The Catch?
The catch is simple. This program only works for and is only available to companies whose traditional premiums are excessive relative to their individual
loss experience. For those who do not qualify now for one or more of the coverages offered, loss control and risk management planning available through
Butwin Insurance Group can help a firm that desires to reduce their losses and set up a game plan to make them eligible.
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