ITDG adds to captive insurance

Aug. 4, 2005

The Independent Tire Dealers Group LLC (ITDG) is adding general liability and garage keeper's liability to current worker's compensation coverage offered by its captive insurance company.

"We started writing worker's comp coverage in April of this year and anticipate having premiums in excess of $3 million by year's end," says ITDG CEO and President Mike Cox.

"With the additional general liability and garage keeper's coverage, premiums could approach $10 to $15 million in several years. We should be licensed to offer the new coverage by the end of the first quarter of 2006."

ITDG is comprised of 95 members, including 52 shareholders located throughout 10 states. They represent 330 retail tire and service outlets.