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Why privately-held dealerships should have Directors and Officers coverage

Most Dealers believe Directors and Officers coverage is only necessary for publicly-traded entities. Because the predominance of Dealerships are privately owned, they feel there is little or no exposure to Management Liability claims. However, private companies risk suits from competitors, governmental bodies, creditors, and even shareholders. Owners, Board Members, and Senior Management may find themselves …

Failure to understand the insurance claims culture of a dealership acquisition can prove costly

I want to return to a topic we touched on in a previous issue. It involves the acquisition of a Dealership (or multiple Dealerships) as it relates to the acquirer’s insurance program. Most Dealers that are financially savvy enough to make major purchases are utilizing a Loss Sensitive program for their insurance. It could be …

The size of your dealership’s insurance program should match the size of your business

Dealership acquisitions present numerous challenges. One issue often overlooked is the way growth affects the Dealership’s insurance program. Not adjusting your dealership policy as you grow exposes you to increased risk and potential lost income. It is ironic how often we see Dealer Groups who are solidly in a growth mode maintain their “small store’’ …