Services

Determining the right insurance structure is crucial and varies based on your risk tolerance. SRA offers tailored advice and support in developing, implementing, and administering the ideal insurance solution through three primary structures:

1. Insured Programs: Engage with an Insurance Carrier and/or 3rd Party Administrator to manage all covered losses, understanding the limitations and terms clearly. SRA’s extensive network with Insurance Brokers, Managing General Agents, and Carriers ensures the best fit for your needs, including determining the necessity of Admitted or Non-Admitted Basis coverage.

2. Captive Programs: Ideal for clients looking to share in the risks and rewards, Captive Programs can be lucrative, especially if managed well. SRA collaborates closely with experienced Captive Managers to optimize and manage your program.

3. Self-Insured Programs: Suited for those with a clear understanding of their risks, this program allows companies to allocate their own reserves for potential losses, often resulting in significant cost savings compared to traditional insurance models. SRA provides in-depth risk analysis and helps develop comprehensive terms to ensure a profitable Self-Insured Program. In addition, SRA provides the tools and support necessary to administer your own Self-Insured Program.

Risk Analysis & Rate Creation: Leverage SRA’s expertise in precise risk assessment and rate creation to manage your risks profitably, whether through risk transfer or internal management strategies like Captive or Self-Insured Programs.

Finding the Best Third-Party Warranty: Let SRA guide you in selecting the most suitable third-party warranty provider, ensuring you get the best coverage and value for your specific needs.

SRA’s Dealer/Manufacturer Self-Insured Program (SIP): Take control of the financial benefits of your superior products with our Self-Insured Program. SRA helps you build a bespoke program that not only maximizes profits but also simplifies complex processes like actuarial duties, rate setting, and claims management. SRA provides the tools and support necessary to administer your own Self-Insured Program.

Efficiency and Protocol Enhancement: Are your current protocols delivering the results you need? SRA conducts thorough reviews of your warranty administration and identifies areas for improvement and strengths to enhance for competitive advantage. Our goal is to help you streamline operations and boost efficiency across all departments.

Physical Damage Insurance, a key factor in closing the deal: A Physical Damage Program (PDI) is essential for heavy construction equipment dealers and customers, offering financial protection against loss or damage due to accidents, theft, or natural disasters. Such coverage is vital for maintaining business continuity and managing financial risk effectively.

At SRA, we specialize in helping our clients find Physical Damage Programs that are precisely aligned with the needs of heavy construction equipment dealers and their customers. Our consulting process involves a detailed analysis of the dealer's specific equipment types, operational risks, and geographical locations to accurately assess potential vulnerabilities. Leveraging our 24 years of industry expertise, we evaluate various insurance options to identify the most comprehensive and cost-effective solutions available.

SRA's role extends beyond basic program selection. We negotiate with insurers on behalf of our clients to secure optimal coverage terms, ensuring that dealers have robust protection without unnecessary costs. By precisely tailoring insurance solutions, SRA helps dealers protect their valuable assets, optimize their insurance investments by finding revenue opportunities, and enhance their overall business resilience and profitability.

Loss Damage Waiver, protecting a Dealer’s Rental Assets: A Loss Damage Waiver (LDW) program is crucial for construction equipment dealers' rental departments, offering protection against financial losses from damage, theft, or destruction of rented equipment. This program not only reduces the financial risk associated with equipment rental but also simplifies the rental process for both the dealer and the customer, enhancing customer satisfaction and loyalty.

As consultants, SRA plays a pivotal role in assessing and implementing the most suitable LDW program for heavy construction equipment dealers. We begin by analyzing the specific risks associated with the dealer's rental operations, including the types of equipment rented, the usage conditions, and customer demographics. Our comprehensive risk assessment helps identify the key exposures that the LDW program needs to cover.