Workers Compensation Insurance Captive Program
The Board of Directors of ARANY voted in November of 2011 to establish a new Captive Insurance Program to provide quality and affordable Workers’ Compensation Insurance for ARANY Members.
On January 1, 2012 the ESTRA/ARANY Self Insured Trust will not longer exist and ARANY members who obtain their coverage from the trust will need a new option. For nearly a year the Board of Directors, the Insurnance Committee and ARANY’s Executive Director have been working to find the best possible option to ensure that ARANY members can obtain reasonably priced insurance to protect their employees.
The year long search has resulted in a partnership between ARANY, the Haylor, Freyer & Coon Insurance Agency (HF&C) and PMA Insurance Companies. The Board has agreed to utilize a captive insurance company that will be overseen by the members of ARANY and operated by PMA, with the claims handled by PMA Management Corp. Marketing and oversite will be provided by HF&C. To participate in the captive and receive the competitively priced Workers’ Compensation rates, a dismantler MUST be a member of ARANY.
The captive insurance program will provide many but not all of the benefits of a trust.
The captive insurance program will provide many but not all of the benefits of a trust. They include strict underwriting to reduce risk and strong claims management to minimize fraud and control the cost of claims. In addition, there is no “Joint and Several Liability”.
All ARANY members wo are currently part of the self insured trust will soon receive a call from HF&C representatives to provide you with a quote on your Workers’ Compensation coverage. Members who are not part of the trust will also here from HF&C. All members are encouraged to contact Mike Alexander at 800-289-1501 for information and details.
ARANY members are also encouraged to contact the Insurance Committee members for information:
Joe Simon (Chair) – Central Auto Recycling 315-468-3454
Fred Knopp – Fred’s Used Auto Parts 315-343-2064
Gary Beagell – Gary’s U-Pullit 607-775-2934
Sid Dunston – Dunston Brothers 518-768-2205
Jerry DeLuca – ARANY 800-944-7278
