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Discussion in 'Law & Order' started by Tanis143, Dec 23, 2018.
@Gary@CCWsafe - I'm interested in this as well...
Here's info from an email I received from CCWsafe in 2017:
"We would like to introduce you to 2A Insurance. As membership to CCW Safe continues to rise, we owe it to our members to provide industry-leading transparency on how we have positioned the Company to ensure its continual ability to efficiently and dependably fund the legal expenses associated with a self-defense/use of force critical incident. Additionally we have a keen appreciation for the importance of preserving member expectations regarding the scope of legal defense services we provide, while at the same time managing the stability of membership rates.
In order to accomplish all of the above, CCW Safe has created 2A Insurance, a captive insurance company designed to provide CCW Safe with an insurance-backed funding mechanism. Simply put, 2A Insurance provides our members with the comfort of knowing that CCW Safe insures its ability to fund the cost of legal services for its members as claims arise. Furthermore, 2A Insurance is protected by reinsurance via an agreement with Port Royal Insurance Company, Ltd. SAC. This additional layer of protection provides the resources of a third party insurance company to draw upon for those claims that have the potential for heavy cost outlays.
2A Insurance is committed to providing the funding and insurance based financial management infrastructure to make CCW Safe the industry leader in legal services membership plans for the concealed carry community. CCW Safe is the company with the greatest financial security to finance claims and meet the needs of members. Creating 2A Insurance solidifies CCW Safe as the clear choice for anyone seeking self-defense legal services coverage."
I'm sure there's more info on their website: https://ccwsafe.com/
None. I live in Oklahoma, trust in my skills and judgement, and are comfortable being judged by my peers. Bonus: I use the extra money for booze.
I look at it like any other insurance. Is it a risk that I would prefer to have someone else shoulder? In this case, yep.
We structured different than the others. The others offered traditional insurance which is why they are no longer able to offer their product in NY. Other states are following suit. Most insurance regulators have ruled that you can not inure an "intentional act". They believe that self defense is an intentional act.
We do not share our financial records as we are a privately held company. I can not speak for the others.
Mac shared the insurance info in the above post. In condensed version we set up our own captive insurance. There is a good wikipedia article that explains captive insurance. https://en.wikipedia.org/wiki/Captive_insurance . It is basically a self owned insurance that protects us. A portion of each membership goes to the captive. Our captive is then backed by re-insurance. So we are covered by our own insurance for losses covering our members. How well does it work and how secure are we? We are the only company that has defended a member charged with murder. From incident to jury trial. Just south of $400k.
While I am on the subject another difference in our company is we have an actual response team. If you are involved in an use of force that rises to "critical incident" status (actual shooting) we send a team to you. No one else does that. We had a member involved in a fatal shooting on Thanksgiving in Las Vegas. Even though by all accounts it is a good shooting we had an attorney hired immediately and a critical response in Vegas in 18 hours. I was deer hunting and couldn't go so we sent another retired homicide investigator (my brother). The attorney scheduled a post shooting interview and accompanied the member to it. The member was also members of 2 competitors plans. He got little help from them. Once it is all wrapped up we will release details.
The price for what you get isn't bad. My Protector membership runs $149 per year. I pay $132 a year for Netflix HD. The member we represented in NC on the murder charge paid $129 in 2015 and 32 days later was involved in a shooting. We paid nearly $400k. Do you need coverage? No. Not until you do.
Let me know if anyone has other questions. Also if you decide to join don't forget to use code OKS10 for a 10% discount. We are sponsors of OK shooters.
Dale00 sorry for the slow response. I work and hunt and play a lot. I do not get on this forum every day. That is why I shared my personal phone number and email. Anyone that has a question can email me or call me at firstname.lastname@example.org or 405-740-7952
For a CCW insurance company to at least have some reinsurance coverage sounds good. It appears they have some actuaries involved to do risk assessments and other steps are being taken to insure enough "reserves" are there to handle the maximum probable costs involved.
Dale00 keep in mind I am a retired cop and the insurance area is new to me. In the captive insurance world we have captive managers. This what they do (from the internet)
Serve as the primary contact with the domiciliary regulators, and ensure compliance with all domicile regulations.
Develop business plans and pro forma financial statements.
Maintain the captive's financial and operational records.
Provide insurance, risk management, and underwriting expertise to the captive.
Provide quarterly and annual financial reports for the captive's owners and board of directors.
Coordinate the captive's board meetings.
Serve as the main point of contact for the captive's service providers, including the actuary, auditor, claims administrator, broker, fronting insurer, investment adviser, and any other professional service providers.
I'll call Daniel Hensch - OKC
He's already pledged to offer free services to the members of another forum I am on.
For the record we are not an insurance company and do not offer insurance products. We structured on the police union model. I am also a member of the local FOP lodge. We are a legal service membership company. We guaranty our members to provide coverage detailed in our terms of service listed on our website under the membership tab (or go here https://ccwsafe.com/terms). The captive insurance described above protects us from the loss of protecting our members. I have been with the company a year and 8 months and we have handled 2 fatal shootings and numerous brandishing cases and minor incidents. The brandishing cases cost multiple thousand $$$ and on the last fatal shooting we have spent in the thousands representing a member on a clean no file (so far) shooting. So you can trust your skills and judgement and go to your police interview without representation. Or you can get covered for $14 (LE/Mil) or $16 a month and have representation. After 32 years of LE work it is a no brainer for me. I have been in a shooting and I can tell you it is hard to put a price tag on what that representation is worth when everything you did is being scrutinized.