CAPTIVE INSURANCE WARRANTY PROGRAM
BRIEF
OWN YOUR OWN CAPTIVE INSURANCE COMPANY UNDER URG’S LICENSE AND CAPTURE MORE PROFITS FROM YOUR WARRANTY PROGRAM.
YOUR CAPTIVE MAKES AN 831(B) ELECTION, RESULTING PROFIT IN THE CAPTIVE INSURANCE COMPANY
KEY FEATURES
- Run your warranty program just like you’re running it now and insure your warranty risk to URG Insurance Company, Inc
- Individual captive cells and group captive cells are available based on investment amount
- URG Insurance insures your risk and other members’ risk to your Captive Insurance Company
- File claims for warranty losses quarterly and get paid by URG Insurance Co
- Your Cell Captive Insurance Company captures your underwriting profits
- Your Captive makes an 831(b) election, resulting in a tax rate of 0% on your profit in the Captive
PROGRAMS
URG WARRANTY REIMBURSEMENT INSURANCE PROGRAM
Members can fund for parts warranty expenses in a manner that allows for a significant increase in the member’s warranty program profits.
URG ENTERPRISE RISK MANAGEMENT INSURANCE PROGRAM
Members can insure for risks inherent in their business that are otherwise not insured,or under-insured.
URG TRADITIONAL INSURANCE REPLACEMENT PROGRAM
Members decrease the costs of their existing commercial insurance programs (Worker’s Compensation, General Liability, Professional Liability, etc.) by utilizing the combined buying power and premiums of participants to negotiate greater control and terms for its membership.
ABOUT OUR PARTNER
URG has formed a parent insurance company that extends its license to URG Members at a nominal cost. CIC Services is the program administrator.
To become part of the URG Warranty program and tap into its benefits:
Randy Sadler
865-599-6104 or randy@cicservicesllc.com
captivatingthinking.com
Discover the Power of Captive Insurance for Auto Parts Recyclers – Check out the new book written by CIC Services’ Noah Miller, ACI and Randy Sadler
In the fast-paced world of auto parts recycling, businesses face a multitude of risks on a daily basis. From property damage and product liability to environmental concerns and regulatory changes, the challenges are as diverse as the parts they handle. That’s where captive insurance comes into play, offering auto parts recyclers a powerful tool for managing risks while providing financial benefits, including warranty reimbursement.
Click the book cover to access a free online flipbook.
Or if you’d like a hardcopy, contact Noah Miller at noah@cicservicesllc.com
