ITDG captive slashes claims by more than 50%

April 5, 2007

The Independent Tire Dealers Group LLC (ITDG) says its Independent Innovative Captive Insurance Co. has reduced its members' insurance claims by more than 50% since the captive's inception two years ago.

Claims for the group are now down to 13%, says Richard Howard, the captive's chairman.

The captive's board of directors is discussing the possibility of declaring a dividend for its shareholders, "something typically unheard of in the first three years of a captive's operation," according to ITDG officials.