HBAG believes there might be more than has been reported.
Builders Insurance was started by HBAG in the early 1990s to provide affordable workers' compensation and other types of insurance exclusively to its builder members and local builders associations across the state.
With more than 13,000 members, HBAG supports 37 local home builders associations in Georgia, advocates for the housing industry at the local, state and national level and acts as a liaison between the local and national organizations.
In response to the extreme and extended downturn in the housing market, your Board responded to the needs of policyholders and ended its exclusive arrangement with HBAG, paving the way for additional associations to offer policyholders a low-cost membership option.
The CBA is an important new option for our policyholders who want to buy insurance from Builders but do not want to pay the high HBAG fees for services they feel they do not need.
We simply believe that the individual policyholder should have the option to select the association that best serves his or her needs, whether it be HBAG, the CBA or any other association that Builders may work with in the future.
In response to your Board's decision to offer greater flexibility to policyholders, HBAG has launched a disruptive and self-serving proxy campaign to replace your Board and take control of Builders Insurance.
For years, HBAG was Builders Insurance's only sponsoring association, so policyholders had to join HBAG to buy from Builders Insurance.
HBAG has resorted to a litany of untruths, misstatements and misrepresentations about Builders Insurance and your Board of Directors in order to accomplish what is, in effect, a hostile takeover of our Company and to force you - our valued policyholders - to pay the high HBAG dues.
HBAG's Baseless Claims And Misrepresentations The Truth HBAG claims its HBAG is running its proxy contest to nominees would act in the eliminate the low-cost alternative that your best interests of all Board implemented for the benefit of policyholders policyholders.