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The alternative markets division of Great American Insurance has announced a national program that will provide a primary admitted property and casualty policy and workers’ compensation coverage for Kona Ice Franchise owners across the United States.
Kona Ice is a Hawaiian-style shaved ice franchise based in Kentucky. Great American’s national program for Kona Ice is offered in conjunction with Cornerstone Insurance and was awarded on May 01.
“We are looking forward to a long-term successful relationship with both Kona and Cornerstone,” said Rich Suter, divisional president for Great American Alternative Markets. “The captive risk-sharing approach will be a great benefit to the Kona franchisees.”
“Despite being named number one in franchisee satisfaction by Franchise Business Review for the last seven years, franchise owner Tony Lamb is always looking for ways to improve the Kona Ice business for his franchisees,” said Mike Roaden, owner and principal of Cornerstone Insurance. “We knew Kona Ice was a more appealing risk than other similar types of business. So, over the last five years we worked to gather information to start our own captive insurance program. We felt this was the best way to stabilize rates, improve coverage and get the best value for the franchisees.
“For us, Great American was the perfect fit. The company has great people, financial strength and a tremendous amount of resources, and has headquarters right here Cincinnati.”
