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Tag: Risk management

How to Develop Your Risk Management Team

Developing a solid Risk Management Team may be easier than you think. Sure, you can hire a qualified Risk Manager at a 6-figure salary, but that may not be necessary.  Take a look at your existing Dealership Team for help:  Chief Financial Officer, Operations Manager, General Manager, CPA and your Attorney.  Together with you (the …

The Relationship Between Claims and Premiums

As a young Account Executive with Universal Underwriters I got a taste of how garage premiums are truly developed.  I had worked the employee rating factors on an account and presented both the worksheet and the Loss History to my Division Underwriter for review.  “Let’s see,” he said.   Then he did something that surprised …

How to Prepare for Severe Weather Events as a Dealer

When we decided to include Weather Event Preparation as a Dealership topic, we thought about the timing.  When do we talk about Weather Events?   Certainly, late spring is the best time to talk about preparing for Hurricanes.  Late winter/early spring is always a good time to prepare for Hail discussions.  And, fall is the …

How to do Finance and Insurance (F&I) Right in a Dealership

Auto Dealers are a unique breed of entrepreneur. They are successful, creative, generous, and a vital part of their communities. To the general public, Dealers sell and service vehicles.  To the Dealer community, the sale and service of vehicles is only a part of the operation.  For successful Dealers, a substantial portion of their income …