Captive insurance groups offer an alternative to a medium-sized, financially stable company with a positive loss history, good five-year loss trend and a strong safety culture. Captives seek out strong candidates to pool premiums and reward captive members with better rates, expanded resources and a potential return of unused premiums. Captives reward companies with stronger safety records, companies like BCS. While a captive cannot match an OCIP or CCIP in this area, it is a better option for companies that can qualify and Amerisure delivers a strong team with extensive dedicated assets to help good companies improve who join their new captive.
BCS has entered Amerisure’s SureBuilt captive which currently has about 20 companies from multiple areas around the country. These include Chicago, Atlanta and Texas. Growth projections from Amerisure for SureBuilt are to continue to 40 or 50 member companies over the next few years, with each having a director on the board and a committee representation regarding future members. Members who experience a severe claim or a spike of claim are supported and openly share their experiences for the benefit of other captive members. Member candidates are rated in multiple areas, including Management Commitment, Driver Selection, Accident Prevention Programs, to name a few. Then they are given a score and rating that equates to Approval, Conditional Approval or Denial.
Members exchange best practices, lessons learned and current challenges for the overall benefit of the captive member companies. Company representatives meet bi-annually and committees conduct monthly meetings on safety, new member approval risk management and finance. BCS it proud of qualifying for a captive and has excelled even within their peers of SureBuilt on their scores. BCS continues to strive to build upon its reputation as the best in class for safety for commercial concrete in Central Texas.
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