Ten 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 handling 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.
- The premiums charged were exorbitant.
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 twofold. The primary objective was to effectively address the above mentioned short comings. 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 addresses all of our major concerns and at considerably reduced rates. Members’ savings over the years adds up to millions of dollars. Simply put, this is the “BEST” insurance program available to contract security companies in Michigan.
In addition to the upfront savings offered, the endorsed carrier pays a premium dividend to MCSA members. A significant divided has been declared every years since its inception.
To obtain a proposal contact Kevin Whaley at The Campbell Group 616-446-1435 or firstname.lastname@example.org.