Group Captive Model Cost Reduction Features
Premiums derived from individual member loss history.
Negative public sentiment & mistrust of larger corporations.
Extensive risk management & safety resources & support.
Continual risk management measurement, remediation & improvement.
Proactive involvement by insured in supporting the TPA in the claims management process.
These aspects of the model empower members to continually drive down costs.
Social and economic inflation factors contribute to higher insurance costs.
Erosion of tort reform.
Economic inflation.
Increasingly large jury awards.
Inflationary Environment
Dividend potential for better than expected losses.
Litigation funding & costs. support system that includes corresponding national networks of local counsel, local independent adjusters, led by a national coordinating legal counsel has a fighting chance to prevail in today’ s litigious environment. The flexibility to utilize the high-end litigation containment resources mentioned is thought to be one of the most beneficial features in member-owned group captive plans.
Conclusion In addition to the potential for premium savings, member-owned group captives tend to benefit members through greater financial flexibility and customized crane industry specific protection against losses. This is due to greater control of and transparency into insurance program costs.
Improved risk mitigation support and enhanced safety are often the top benefits of member owned group captives. Extensive risk resources and support with both pre- and post-loss focus, in addition to continual measurement, drive continuous improvement.
Kevin Cunningham is president and CEO of Crane Risk Services, and has 27 years of experience in crane risk management. He can be reached at Kevin @ craneriskservices. com.
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800-439-9073 • 208-267-6215 www. whitemountainchain. com
TRYGG Hybrid
- 30 % Bigger Studs- 8 mm truck chains
Bonners Ferry, Idaho
Lightweight hooks & side chain with“ grade 80” strength( tire chain use only)
FAT STUDS. 30 % thicker than our original oversized studs.
Head & tail meets completely before cross chain removal is necessary.
25 % weight reduction on complete assembly!
www. contractorshotline. com July 18, 2025 39