Stable Rates - Rates are based only on the group's actual claims history and are subject to approval by the Board of Trustees elected by the members of the group.
Surplus Distribution - Retained earnings accrue to the benefit of the members, not outside investors or insurance companies.
Lower Expenses - Operating expenses are reduced from an insurance company average of 35 percent to an average of 20 percent.
Investment Income - The group retains the revenue from the contribution fund investments.
Member Selection - New membership is restricted to dealers who meet the underwriting guidelines established by the group.
Improved Claims Management - The claims administrator is accountable for the performance standards established by the group.
Reduced Losses - Members are aware the payment of claims reduces the contribution fund and each member has a greater appreciation for safety and loss control.
|
