Universal Casualty has partnered with with NIADA. How did the partnership come about?
Universal Casualty’s CEO Timothy Derham has always specialized in tailored insurance solutions for small businesses. As the representative body for over 38,000 used vehicle dealers in the United States, NIADA is always striving to provide a greater array of services for its members. With 40 years of experience handling dealership claims, Universal Casualty’s solutions were a perfect fit for NIADA.
How does the NIADA benefit from its partnership with Universal Casualty?
The partnership is 100% dedicated to NIADA members, who are now eligible for exclusive market premiums and access to services including General Liability, Workers Compensation, Professional Liability, Commercial Auto, Tools / Equipment, Commercial Property, and Business Owners Policy.
One of the most recent services made available to NIADA members is Cyber Liability. Car dealerships hold a lot of sensitive data, which has increasingly made them the targets of cyberattacks. Due to this uptick in cyberattacks the FTC recently passed regulation requiring non-banking financial institutions to implement a system to keep customer information safe. Cyber Liability insurance helps dealerships meet these regulations by taking measures both to prevent cyberattacks and minimize their potential damage. The plan covers expenses such as customer notification, credit monitoring, legal fees, and fines.
What’s the biggest way NIADA members save from this partnership?
The biggest savings are in the reduction of premium costs. By partnering with NIADA, Universal Causality has reduced costs while increasing service capabilities with their 24 hr claims service for independent auto dealers.
What other organizations like the NIADA does Universal Casualty see itself partnering with in the future?
According to Timothy Derham the company has “recently partnered with a company called Cybersuite Security Solutions out of Tampa Bay, Florida.” Upfront loss control is key, so before insuring someone Universal Causality does a background check on the dark web. If something pops up, this company will notify them. Looking to the future, Universal Casualty is always seeking to partner with organizations that help them expand their insurance capabilities and offer more protection for independent auto dealers. “Universal Casualty protects your business so you can focus on running it.” Added CEO Timothy Derham.