NEW NADA Workshop: Benefit from Being an Intelligent Insurance Buyer

2 Jan

NADA Workshop
Blog Entry by: Steve P. Gibson, Dealer Risk Services
Track: Managing Your Resources Gibson, Steven

The dealership insurance market is changing quickly. Over the last year we have seen premiums rise, deductibles increase and coverages limited. The savvy dealer must take a proactive approach to their dealership’s insurance and risk management programs. This unique workshop brings together three of the most respected names in dealership insurance. Nate Oland of Federated Insurance Company will offer the direct writer insurance company perspective, Steve Gibson of Dealer Risk Services represents the agent/broker view and Roger Beery of Austin Consulting Group will present insights as an objective dealership risk manager.

This workshop will cover the important insurance concepts that will help the dealer be a successful insurance manager and buyer. You will learn what to expect from your insurer at renewal. See what insurers are looking for in your loss runs and learn the best practices that will have a long-term positive effect on your loss picture.

The frustrating fact is that no two insurance programs are exactly the same. You will learn some of the major coverage differences and how to compare these details.Higher deductibles may sound like an easy way to lower premiums, but is this really an effective cost reduction strategy? We will discuss how to evaluate the economics of deductibles and understanding your risk tolerance. There is not always an easy answer to every dealership’s insurance needs. Sometimes a creative insurance mind is required to find just the right coverage to protect your assets.

We’ll “get outside the box” and learn how to find the answers you need.

In addition to loss control, effective insurance bidding is the other key to controlling your insurance costs. The panelists will offer three perspectives on annual insurance bidding. Learn the keys to creating bid specifications that work and how to run your own effective insurance bid process.

Schedule:
Friday, February 8th 12:15- 1:30pm W209 B
Saturday, February 9th 10:30-11:45pm W305 AB
Monday, February 11th 8:30am- 9:45pm W305 AB

For our full workshop schedule click here.

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