The insurance company for the Independent Tire Dealers Group (ITDG) has renewed its policy for the 13th year in a row.
Independent Innovative Captive Insurance Company, Inc. (IICIC), founded in April 2005, works to reduce and stabilize workers compensation insurance costs for shareholders and members of ITDG.
IICIC currently writes workers compensation insurance in California, Colorado, Arizona, New Mexico, New York and Oregon states. With ITDG’sexpanding footprint, IICIC is currently looking at additional states to help ITDG members.
IICIC’s approach to workers compensation insurance has netted accumulated earnings of over $4 million with a 12.9% ROI since inception.
The Board of Directors has again approved a dividend this year in the amount of $1,000.00 per share, which is coincidentally the same amount as the original share value. Insured shareholders will be receiving their dividends prior to their annual shareholder’s meeting May in Chandler, Arizona.
At the close of 2017, IICIC’s share value was 5.1 times greater than its original acquisition cost, in spite of several prior dividends being paid. IICIC says its success can be attributed to its strict underwriting guidelines, industry-specific safety policies, dedicated in-house defense counsel and dedicated in-house risk management team. It also operates with 100% of the insureds owning the company.
