In this episode of Captive Talks, hosts Joel Hurt and Kody Fitzjerrells talk about the similarities and differences in the actual underwriting and renewal process when quoting a group captive vs traditional insurance program.

Joel and Kody discuss the myths that surround the captive market such as it being a much longer or more difficult process. This just is not the case. Often times it is the exact opposite. You get a quicker response and indicated pricing looking at a captive than the traditional insurance marketplace.

Enjoy and always here with questions.

Are you ready for a captive as a trucking company? In this episode, hosts Joel Hurt and Kody Fitzjerrells hit on both the tangible and intangible things that make a trucking company ready for a captive.

For the intangible aspects, it is all about mindset and your philosophy about ownership in the insurance company itself. You need to think long-term and be willing to bet on yourself and your company.

For the tangible aspects, it is all about your claims, premium size, safety culture, and financial strength.

Listen in and get a feel if you are ready. Reach out to us at Omni Insurance with questions.

The cost of insurance is rising for many trucking companies, but not all trucking companies.

In Group Captives fleets experience rate reductions annually when they perform well on claims, receive money back, and on average fleets pay less when they enter the captive initially. Here are the top stats to know:

1. Trucking fleets who enter the captive save on average 10-20% when they join the captive.
2. Trucking fleets when they perform in the top 50% of the captive on average see a 10-15% rate reduction.
3. Fleets on average receive back 15% of their premium annually on their total premium.

When it comes to the traditional market vs a group captive, from a net cost for insurance, the captive does not lose.

If you are an elite-run trucking company and want to exit the traditional market and stop with drastic cost increases on your insurance, let's talk.

Think different, think captives.