Three years after its formation, the Independent Tire Dealers Group LLC's (ITDG) captive insurance company has declared a dividend to its shareholders.
The Independent Innovative Captive Insurance Co. (IICIC) has declared a 10% dividend for its first-year shareholders, says Bob Slagle, the company's treasurer.
"We have accomplished this through a lot of effort by a lot of people...and diligent risk control. We all need to be aware of areas of risk or injury in our businesses and do everything we can to provide a safe work place."
In 2007, ITDG officials said the captive had reduced its members' insurance claims by more than 50% since its creation.
The IICIC is a registered captive insurance firm domiciled in Arizona.
