Concordis Group, Inc., a financial holding company, and Avizent Risk announced a partnership to provide alternative risk solutions for restaurant franchisees in the U.S.
The initiative, called the Restaurant Franchise Captive Program II (RFCP2), is a group captive insurance program for restaurant, retail food business owners and franchises that are members of established national or regional companies.
The RFCP II program includes Atlantic Gateway International SAC ltd., Frank Gates Bermuda, UAR Investments LLC, and Concordis Group, Inc. Some of Avizent's customers include Coca-Cola, Signal Mutual, Wal-Mart, Commonwealth of Virginia, Honda, Peabody Energy, 7UP/RC Cola, United Parcel Service, Enterprise Rental Car, AL Truckers, AL Assoc. of General Contractors and Workers First.
"Our program highlights the reality that captives today are not just for the hard market," notes Rick Stasi, Chief Operating Officer at Avizent Alternative Risk. "Our program gives brokers the chance to offer their clients more value-added services and gives organizations that are not familiar with captives the opportunity to participate. Plus, analysts believe the hard market is coming, so now is clearly the ideal time to move forward with a captive arrangement."
Trent S. Sommerville, chairman and CEO of Concordis Group, Inc., added that the company will also be working with Avizent to provide Third Party Administrator (TPA) services to clients.
