Underscoring the need for accountability and transparency, HBAG reported that Builders Insurance has undertaken the following actions:
attempted to throw out HBAG and replace it with a shell association with little or no accountability to policyholders;
Ed Phillips, executive vice president of HBAG said, "Builders Insurance is not being properly managed and has no accountability or transparency.
Since owners/policyholders share the liability of a captive mutual company, HBAG considers it paramount for owners/policyholders to control the company's management.
com, or Kelly Lass, Interim Executive Vice President of HBAG
, +1-404-763-2453, klass@hbag
HBAG also continues to send malicious and misleading emails to its members that misrepresent, among other things, Builders Insurance's dividend history and policy and the compensation paid to Builders Insurance directors.
HBAG is trying to replace Builders Insurance's qualified and experienced directors with a slate of handpicked nominees who:
Could serve as "rubber stamps" for HBAG's self-serving agenda, potentially sacrificing future dividends paid to our policyholders in order to restore the lucrative fees paid to HBAG.
We believe it is difficult for HBAG and its nominees to represent the interests of Builders Insurance policyholders when they are beholden to members with significantly different interests.
We urge you not to sign HBAG's blue proxy card and to discard any materials sent to you by HBAG.
Our Company was founded not by HBAG, as it has falsely asserted, but rather by home builders who were abandoned by another insurance provider in 1992.
Historically, individuals could only obtain a Builders Insurance policy as a member of HBAG.