1. Long-Term, Stable Pricing
Motor carriers with shared insurance needs and above-average safety performance can benefit through their mass purchasing power. Being a member of PowerTech® Elite provides greater long-term control over your premiums and stability, with lower operational and administrative costs.
2. Earn Investment Income & Policyholder Dividends
When you join a Captive, you’re an insurance company owner. The premiums your members pay establish your loss fund. Your loss fund earns interest income until claims and expenses are paid. Any remaining balance is returned to member-owners through dividends in accordance with state insurance requirements and the direction of the board of directors of the Captive.
3. Predictable Cash Flow
All PowerTech® Elite members have predictable monthly premium payments.
4. Low Cost to Entry
To join PowerTech® Elite, a one-time $30,000 capital contribution is required.
5. Tax Deductibility
Members may be allowed to take their current year’s insurance premium expense as a tax deduction.
6. Best Practices from Other Motor Carriers
Members of PowerTech® Elite have a vested interest in each other’s performance and share risk control best practices. PowerTech® Elite facilitates knowledge sharing, benchmarking, and a club-like atmosphere for its members.
7. Special Risk Control & Claims Handling
Your insurance policy is issued by Great West Casualty Company, and Captive members receive access to special safety and claims liaisons.
8. Escape the Pricing Cycles of the Insurance Marketplace
The PowerTech® Elite Captive can shelter your trucking company from insurance market volatility. By joining with other member-owners focused on risk control, you also reduce your likelihood of subsidizing premiums for companies with high loss experience. Captive members achieve stabilized risk financing over time.
