KEMI to Partner with ADMIC to Provide Workers' Compensation Coverage for Qualifying Automotive Dealers
Kentucky Employers’ Mutual Insurance (KEMI) has entered into a quota share reinsurance agreement with the Automobile Dealers Management Insurance Company (ADMIC).
The new program will be marketed by the ADMIC Insurance Agency and The Underwriters Group and will provide qualifying new car franchise auto dealers access to KEMI’s multistate policy issuance, excess reinsurance program, established loss control, claims and managed care services.
“KEMI is looking forward to helping auto dealers across Kentucky control their workers’ compensation insurance costs,” said Jon Stewart, President and CEO of KEMI. “In addition to the highly competitive rates offered to qualifying dealers, we believe ADMIC members will benefit from the safety resources and claims management strategies KEMI provides to our policyholders.”
“Our Board saw that partnering with the established market leader would allow us to maintain our competitive cost structure and still provide the dealer focused Workers Comp services and KADA / GLADA legislative input for which we are known,” said Bob Hook, Jr., Chairman of ADMIC.
ADMIC is a captive insurance company which offers workers’ compensation and employers’ liability coverage and in 2017 a garage liability program. The company is owned by Kentucky-based new car franchise auto dealers.
KEMI is Kentucky’s largest provider of workers’ compensation insurance with more than 24,000 policyholders throughout the state. The company is rated A- (Excellent) by A.M. Best for its financial stability.
Posted September 9, 2017