Family-owned and operated since 1923, Dunbar is the largest independent armored car company in the nation dedicated to safeguarding valuables. Working with clients across a variety of industries, including retail, financial institutions, schools and universities, and government entities, Dunbar provides a host of complex and integrated security solutions.
Now managed by the third generation of the Dunbar family, the company recently engaged in a review of its executive insurance offerings in order to enhance the business and succession planning and to assist with the estate planning for senior staff. “We wanted to be sure our executives could continue to focus on enhancing the business,” said Dunbar CFO Juergen Laue. “But, we knew we needed expert help. We turned to RCM&D because of their experience in dealing with family-owned businesses.”
RCM&D’s Private Client Division conducted a comprehensive review of the life, disability and long-term care insurance policies of key executives and provided Dunbar with comparative information on what companies of similar size and composition were offering their senior staff. “RCM&D identified potential gaps and made recommendations to close them,” said Mr. Laue. “The work was done with great sensitivity and a full appreciation for the highly confidential nature of the information involved. We always felt that RCM&D’s goal was to present alternatives that were the best for the individuals involved. We want to work with people who are solution oriented and engage an understanding of our company and culture.”
Evaluating the insurance needs of key executives in a multigenerational, family-owned business involves understanding the company’s needs, as well as each individual’s needs, to generate solutions that work for all. This involves an on-going process of review and evaluation, as needs will change as the business continues to grow and the next generation participates. “We were very happy with the way RCM&D approached the work, commented President Kevin Dunbar, “and very satisfied with the result. RCM&D took both business and personal needs into consideration and developed a highly customized solution.”