SBCA Insurance Broker Program
The goal of the SBCA Insurance Broker Program is to provide SBCA's component manufacturing members with a group of insurance agents who are well equipped to advocate with underwriters on behalf of our industry, and help them find appropriate and cost-effective coverage.
"Too many [component manufacturers] don't know what to ask for and what to expect of their insurance brokers. The component manufacturer/insurance broker relationship must go beyond price shopping and going to lunch. Component manufacturers must delineate what they want and expect of their insurance brokers and hold them accountable."
-Kent Pagel, SBCA Legal Counsel
SBCA has teamed up with Lockton Companies and AmTrust Insurance to create a proprietary commercial insurance program for its membership. This insurance program is for all traditional lines of coverage – Property, General (Product) Liability, Commercial Auto, Umbrella, and Work Comp lines. SBCA has worked hard to develop this partnership with Lockton and AmTrust as a way to provide real, monetary savings to its members. The significant savings on insurance premiums is made possible only through the way in which this program underwrites participants. Consequently, the longevity and success of the program will be reliant on participants maintaining acceptable loss-run rates.
As such, SBCA, Lockton and AmTrust have established comprehensive criteria for program participants, including participation in industry-specific best practices that have been developed, used and proven effective by component manufacturers across the country. These best practices have been bundled together in the new and improved SCORE program. By implementing well-established industry best practices focused on product quality, production safety and risk management, program participants are taking actions that ultimately should result in lower incident and claim rates.