Excerpt: When Healdsburg Lumber Company (HLC) was hit with soaring insurance rates about a decade ago, the dealer needed to make drastic changes before costs ate the business alive.
“At the time, workers comp coverage in California was chaotic at best, increasing annually by double digits and by as much as 20 percent,” says Eric Ziedrich, president and owner of HLC. “It was virtually impossible to control our costs.”
HLC, along with a half-dozen other members of the Lumber Association of California and Nevada, decided to take matters into their own hands and explore other options that could allow them to manage their own premiums and loss control challenges. With the help of their association’s broker, Owen Dunn Insurance Services in Sacramento, Calif., they began the process of creating their own company.
Although the group captive insurance company began as an LBM-based organization, it has since grown and diversified with 130 member companies across the U.S.
The common denominator is that each business takes safety very seriously.
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