Four years ago, the MCSA Board of Directors
began a feasibility study to see if our members could benefit
from an association sponsored insurance program. The Campbell
Group of Grand Rapids was contracted to do an initial analysis
of current members’ coverage, rates and quality of services.
A brief summary of their findings as follows:\
- The financial
strength of many member's insurers was questionable.
- Some
members could not find necessary lines of insurance coverages
at any price.
- None of the members interviewed (approximately
20 agencies) were with insurance companies that were licensed
in Michigan nor did they participate in the Michigan Guarantee
Fund which would provide coverage in the event of an insurer’s
insolvency.
- Policy forms were often very restrictive
and there was no consistency in coverage offered from one
insurance company to another. Members were shocked to find
policy exclusions and restrictions took away coverage they
thought they had.
- All members had separate insurance carriers handlin their
Worker’s Compensation, General/Professional Liability, Crime,
Automobile, Property, Equipment and Bonding.
- In most cases
the current agents, auditors, and claim representatives had
very limited knowledge of the contract security industry.
Due
to the above findings a National search was done in hopes of
identifying an insurance company that would offer some relief.
The goal was two fold. The primary objective was to see which
of the afore mentioned short comings could be effectively dealt
with. The second goal was to provide our members with reduced
and consistent rates. As a result of these findings, the MCSA
has partnered with The Campbell Group/Great MidWest Insurance
Company and now has an insurance program that address all of
our major concerns and at considerably reduced rates. Member’s
savings this year were in the $500,000 range. Simply put, this
is the “BEST” insurance program available to Contract Security
companies in Michigan.
Over $50,000 in dividends was returned
to MCSA policy holders for the 2007 term!
NEW medical plan is
available for 2007. Check it out!
To obtain a proposal contact Kevin Whaley at The Campbell Group
1-800-651-7495 or kwhaley@thecampbellgrp.com.
