Lyons Companies announces the George Sherman Corporation has received the highest honors conferred annually by ICS Preferred Energy Group captive.
The George Sherman Corporation is one of more than 100 businesses Lyons Companies has placed in the captive insurance marketplace. "Captives work for well-run companies like Sherman that do all they can to reduce and prevent losses," said David F. Lyons Sr., president and CEO, who presented the award to Harold Sheets and William Tobin of the Sherman Corporation. "They share the risk with like-minded select businesses and benefit by paying lower insurance premiums."
The George Sherman Corporation and three other members of the PEG captive received the President's Award for achievement at the organization's annual meeting in Los Cabos, Mexico. The Sherman Corporation was distinguished as the single recipient of the organization's highest honor, the Chairman's Award. The Chairman's Award recognizes long-term overall performance, safety culture, best practices and productivity.
"With Delaware employers seeing double-digit workers comp rate increases for possibly a third straight year, captives make a lot of sense to business owners interested in controlling costs, " said Lyons. "Captive members don't have to bear the cost of high-loss customers in the traditional insurance pool."
Lyons Companies is Delaware's largest independent risk management and insurance brokerage firm offering commercial insurance, employee benefits consulting and personal insurance at offices in Bethesda, Md.; Wilmington and Rehoboth Beach.
To learn more about Lyons Companies go to www.lyonsinsurance.com.