In April of 2004 TCSI-Transland joined Traffic Insurance LTD for the purpose of Work Comp and Auto Liability Insurance Coverage. Traffic is chartered in Grand Cayman and is the 9th largest captive insurance company of any type in the world. Currently consisting of 55 Carrier/Members Traffic was founded by Cottingham and Butler out of Dubuque, IA along with Captive Resoures; a captive consultant out of Chicago, IL. The concept is simple; by limiting your accident and claims experiences you create wealth by receiving premiums back in the form
of dividends. I have seen carriers receive back at the end of an accounting period as much as 40% of their paid in premium for that period. What didn’t make sense was that these 55 carriers were partnering and sharing risk in insurance but they weren’t really using their economies of scale for anything else.
At the Summer Meeting in Canada in August of 2009 I suggested that we form a freight posting network so the members could broker freight to ourselves. The concept is simple enough and makes complete sense to trade more with partners that you trust as they have good insurance,
ethics, practices, cultures, etc. As of November of 2009 I am pleased to report that we have formed the Freight Posting Network ( you must be a Traffic Insurance Member to be a member of the FPN ) and we have 29 members on board and hope to have another 10 members signed up by March of 2010. We should GO LIVE by early December of 2009 and I will keep you posted on the progress. I expect this innovation and many others to keep us in business as others exit the market.
Mike Walker
President
TCSI-Transland, Inc.
Tags: FPN, insurance, Traffic Insurance