The Marine Industry Certified Dealership Program has added a new benefit exclusively for Certified Dealerships. Participants at any level of the MICD Program are entitled to exceptional business insurance coverage through CNA, the exclusively endorsed insurance company of the Marine Retailers Association of the Americas.
CNA has partnered with Norman-Spencer Marine Insurance, MRAA’s exclusively endorsed insurance broker, to bring this valuable perk to Certified Dealers. Step 1, Step 2 and Five Star Certified Dealers enjoy escalating levels of comprehensive business insurance coverages that are unattainable anywhere else in the recreational marine industry.
“The relationship that exists between CNA, Norman-Spencer and the MICD Program is a profound, meaningful way to underscore the overall value of becoming Certified for dealers,” says MICD Program director Sonja Moseley. “There are an incredible array of choices when it comes to selecting business insurance. It’s a critical component of any marine retailers’ operation, and finding the right option can be tricky without expert guidance. Not only can CNA and Norman-Spencer advise dealers on the best route to take, but this program also makes it easier to secure top-of-the-line coverage that provides the best protection available in the business.”
As part of the CNA/MICD Program benefit, Step 1 Certified Dealers will receive a Certification Expense Reimbursement of $250 off their insurance premiums. Step 2 Certified Dealers will receive a Certification Expense Reimbursement of $500, plus some automatic insurance coverage enhancements: Boat dealers coverage extension to extend inventory coverage to include loaner boats and boat trailers; and personal use of inventory by owners, officers and employees.
At the program’s apex, Five Star Certified Dealers are entitled to a $750 Certification Expense Reimbursement, the boat dealers’ coverage and personal use of inventory extensions, plus the following:
• Loss-Free Dividend Program: If no claims are reported or incurred, the dealer will receive up to 10 percent off their premiums returned
• Diminishing deductible: If no claims are reported on incurred, deductibles will be lowered on the policy renewal for each year, to a minimum deductible level of $250.
Both of these added benefits are exclusive to Five Star MICDs that are current customers insured with CNA.
In addition to benefits offered to Certified Dealers through CNA, participants in the MICD Program also are able to take advantage of many other insurance services provided by Norman-Spencer directly. These include: Analysis of current business operations and exposures; review of current insurance program policy against current operations and exposures; a complete report on findings and recommendations; alternative program design and pricing; and more.
“Both CNA and Norman-Spencer support the Marine Industry Certified Dealership Program, and in order to show that support, we created these unique benefits reserved solely for Certified Dealers that bring them a value they can’t find anywhere else,” says Mark Yearn, MICD Program manager for Norman-Spencer Marine Insurance. “We’re able to guarantee these kind of benefits and coverages and offer built-in bonuses like Loss-Free Dividend and diminishing deductibles. This is an opportunity only MICDs can take advantage of, providing an excellent reward for all the hard work these dealers put into earning their Certification.”
Certified Dealers wishing to take advantage of the incredible benefits and enhancements made available to them through CNA and Norman-Spencer should contact Yearn directly at 810-360-0757 or markyearn@norman-spencer.com.
For more information about enrolling in the MICD Program or additional benefits of becoming Marine Industry Certified, contact Sonja Moseley at 763-333-2424 or sonja@mraa.com.
About the Marine Industry Certified Dealership Program
Managed by the Marine Retailers Association of the Americas (MRAA), the Marine Industry Certified Dealership Program (MICD) is dedicated to improving the customer experience at the retail level. The first step in the Certification process focuses on establishing a high level of customer satisfaction through communication, appearance and quality. The second tier of Certification continues to enhance the customer experience by implementing processes for overall dealership functionality. At the program’s Five Star level, established organizational procedures are implemented to ensure smooth operations and happy customers. To learn more about the MICD Program, visit MRAA.com/certification.
About Norman-Spencer Agency Inc.
Norman-Spencer Agency Inc. is a nationally recognized provider of high quality insurance products for all boats and yachts, serving hundreds of dealer and marina partners nationwide. Along with boat owner programs, the agency also provides market-leading business insurance solutions for all facets of the recreational marine industry, including dealers, marinas, manufacturers and marine artisans. Norman-Spencer has been the only MRAA-endorsed marine insurance provider for more than 25 years. For more information, visit norman-spencer.com. or e-mail Mark Yearn directly at markyearn@norman-spencer.com.
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