What is Reinsurance?
Reinsurance gives dealers and other business owners the opportunity to participate more directly in the underwriting profits of the protection products they sell.
Instead of underwriting profits remaining with a third-party insurance company, a properly structured reinsurance program can allow you to retain all of the premium reserves associated with your business. Over time, this can create an additional source of profit while giving you greater visibility into program performance and greater control of the products you sell.
For dealers, reinsurance can provide several important advantages:
- Participation in underwriting profit
- Greater control and visibility over reserves
- Investment income on premium reserves
- Tax-efficient program structures, when properly designed
- Greater flexibility in claims management
- Improved customer satisfaction through more responsive claims handling
- A long-term wealth-building opportunity tied to the performance of your own business
At its core, reinsurance allows you to move from simply selling protection products to participating in their financial results.
A Reinsurance Program
Built Around Your Business
Buckeye Risk Services works with dealers, lenders, home services companies and insurers across the country. We understand that no two businesses operate exactly the same way. Our role is to make reinsurance easier to understand and to help structure a program that aligns with your sales volume, risk tolerance, cash-flow objectives, and long-term financial goals.
Whether you are exploring reinsurance for the first time or looking to improve an existing program, Buckeye provides the experience, transparency, and support needed to build a structure that works for your business.
Reinsurance Works For:
Limited Warranties
Mechanical breakdown coverage included with the sale of your vehicles as a way to add value and increase consumer confidence.
Vehicle Service Contracts (VSC)
Optional mechanical breakdown coverage offered at time of sale including roadside assistance, towing and rental car reimbursement.
Guaranteed Asset Protection (GAP)
In the event of a total loss, GAP pays the deficiency balance on a car loan after the primary insurance settlement has been applied.
Collateral Protection Insurance (CPI)
Physical damage coverage for your autos in your portfolio. Coverage includes comp & collision for all drivers for total losses and repairable losses. CPI costs may be passed on to the customer.
Vendor Single Interest (VSI)
Coverage purchased by a lender to protect against certain losses due to repossession such as skip tracing, towing, storage, and physical damage.
Debt Cancellation Contract (DCC)
Coverage for a customer’s auto loan payments in the event unforeseen events occur.
Credit Life / Disability
Coverage for a customer’s auto loan payments in the event unforeseen events occur.
Let us Help!
With our knowledge, expertise and creativity, we can customize a program that fits your needs and evolves with future goals. At Buckeye, our mission is to provide our clients with the best care and service. This is the way we grow together, by making your success our most important priority.
