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ITDG's captive insurance company declares dividend

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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.

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