Caitlin Morgan Captive Management is taking part in a new national US captive programme alongside Cornerstone Insurance, for Kona Ice Franchise owners across the US.
This captive programme will focus on providing primary admitted property and casualty policy and workers’ compensation coverage.
Chris Murray, CEO, Caitlin Morgan Captive Management said: “We are excited to start this new national program with Kona Ice, Cornerstone, and Great American.”
The programme is based out of Hebron, Kentucky, and leverages a captive risk-sharing approach that is set to benefit the Kona Franchises, including maintaining rates, improving coverage and getting optimum value for the franchises.
Rich Suter, divisional president for Great American Alternative Markets, commented: “We are looking forward to a long-term successful relationship with both Kona.”
Mike Roaden, Cornerstone Insurance owner and principal, stated: “Despite being named No. 1 in Franchisee Satisfaction by Franchise Business Review for the last seven years, franchise owner Tony Lamb is always looking for ways to improve the Kona Ice business for his franchisees.”
He added: “We knew Kona Ice was a more appealing risk than other similar types of business. So, over the last five years we worked towards starting the captive insurance program.”
