Kumho, Insurance Firm Enter Partnership
On June 16, Kumho Tire Co. announced it has entered into a strategic customer services partnership with Samsung Fire & Marine Insurance, and will soon launch a full-fledged joint marketing program. In unveiling the details of this arrangement, the tiremaker commented that these days many businesses “are creating synergies through partnerships with other sectors.” As
TIA Adds Health, Workers’ Comp Insurance Benefits for Members
The Tire Industry Association announced it has partnered with Federated Insurance to offer members access to affordable and comprehensive workers’ compensation insurance, in addition to access to , a selection of limited-benefit medical plans through, HM Care Advantage, a wholly-owned subsidiary of Highmark Blue Cross Blue Shield TIA members interested in more information and a
Insurance Company Readies for Court Battle with Goodyear
Ukraine insurance company PZU is taking Goodyear to court after the tiremaker, which is a majority shareholder in Polish tire company Dbica, reportedly failed to deliver financial agreements and other documents. The insurer, which itself holds a minority stake in Dbica, asked the company to provide the documents after questions arose about whether Goodyear (which
Pro-Tec Has Special Offer on Tool Insurance
Pro-Tec Insurance, underwritten by Hanover Insurance Co., has a special offer for new clients – a 50% discount on tool insurance. The offer runs through Sept. 1, Pro-Tec said. “Unlike a homeowner’s rider to a policy, which requires a detailed schedule, Pro-Tec provides blanket coverage for unscheduled tools and equipment for up to $50,000, and
Kwik-Fit Prepares to Sell Insurance Business
Ian Fraser, CEO of tire retail giant Kwik-Fit, is preparing to sell its insurance wing for in excess of £200 million. According to a report published in the Sunday Times Feb. 14, Kwik-Fit has hired bankers at Credit Suisse to carry out a review of Kwik-Fit Financial Services. The report points out that a sale
Police Raids Bust Detroit Area Tire Theft, Insurance Scam Ring
A huge tire theft and insurance scam ring involving a number of tire stores was broken up in Monday morning police raids across numerous Metro Detroit area communities. The raids came after a months-long undercover operation by the Western Wayne Auto Theft Task Force, Detroit Police Commercial Auto Theft Unit, the FBI and officers from
Insurance Must-Haves
Business experts say thatindependent businesses generally go through three distinct growth stages, andthe amount and type of insurance a business needs depends on which stage it’sin. In the early stages of growth, for example, a company should focus on onlythe basics; then, additional insurance should be added gradually as thebusiness expands. Not sure which stage
Cut Health Insurance Costs
While independent tiredealers have little control over the rising costs of health insurance for theiremployees, they may be able to offset all or part of the increases by adjustingtheir overall benefits packages – without diminishing the benefits they offeror significantly increasing plan administration costs. Here are five ways to do it: 1) Enable employees to
Monitor Insurance for Changes
As your dealership changesand expands, it becomes critical to discuss potential new risks with yourinsurance agent during quarterly or annual meetings. Specific business insurancerisks include: • Real estate: The value ofyour property has likely appreciated; thus, your real estate insurance shouldbe adjusted. • Inventory: If your companyhas grown, you may be carrying more inventory than
Big O Tires Selects Zurich as Insurance Provider
Big O Tires has selected Zurich North America Commercial as its preferred property and casualty insurance provider for its approximately 500 franchise tire store owners in 21 states, according to Zurich.