Risk Management
INSURANCE COVERAGE ANALYSIS
In protecting dealership assets we understand that knowing what you don’t have in the way of insurance protection may be as critical to a dealership’s continued operations – and possibly more so - as knowing what coverage you do have. That’s why at Thaxton & Associates we conduct a careful, thorough, and detailed analysis of a dealership’s existing coverage. The review is fundamental to the agency’s primary mission statement of preserving the assets of the dealer-principal, and includes everything from examining liability limits to evaluating defense counsel, from reviewing inventory coverage to scrutinizing errors and omissions protection.
LIABILITY CLAIMS ANALYSIS
Whether the claim comes from an auto collision or a customer slip-and-fall, faulty workmanship or an error and omission, liability losses represent the lion’s share of damages suffered by Franchise Auto Dealers. At Thaxton and Associates we study a dealership’s loss history from several perspectives, including type, amount paid, frequency and location to determine how best to meet a dealership’s risk management objectives. These in-depth analyses are provided during our initial evaluation of dealership operations and continue as a part of our pro-active risk-management service to clients.
WORKERS COMPENSATION CLAIMS ANALYSIS
Minimizing workplace injuries is central to controlling premium costs for workers compensation coverage. At Thaxton and Associates we study a dealership’s loss history from several perspectives, including location of occurrence, type of injury, and frequency and severity of injuries reported to determine how best to advise the dealership in meeting its risk management objectives. These in-depth analyses are provided during our initial evaluation of dealership operations and continue regularly as a part of our pro-active approach to helping clients manage workers compensation exposure.
F&I COMPLIANCE
A long and dizzying list of federal and state consumer protection laws now expose dealership assets to potential liability with every deal written by a sales associate. The federal Truth in Lending Act and Federal Reserve Board Regulation Z, the federal Consumer Leasing Act and Federal Reserve Board Regulation M, the Equal Credit Opportunity Act and Federal Reserve Board Regulation B, the Federal Gramm-Leach Bliley Act and the Federal Trade Commission’s privacy regulation and the FTC’s Used Car Rule, are only a few of the laws governing an auto sale. At Thaxton & Associates we have long recognized the value of continuous F&I training. And, we work closely with the best F&I training consultants in the industry to help guide our clients clear of fines or litigation.
DISCRIMINATION AND HARASSMENT SEMINARS
Many state laws now require employees and supervisors to receive training in understanding and avoiding sexual harassment in the workplace. For instance, the state of California mandates that employers provide supervisory employees located within the state with 2 hours of interactive sexual harassment training and education every 2 years (CA Govt. Code Sec. 12950.1). The requirement covers employers with 50 or more employees. At Thaxton & Associates we have established relationships with the finest compliance training organizations available to dealerships anywhere in the nation.