In short: judge a reinsurance partner the way you would judge any long-term relationship — by what they make visible and how they respond. Ask the ten questions below, worth two points each: two for a confident yes, one for partially, zero for no or "I don’t know." Sixteen or higher means a partner worth keeping. Ten to fifteen means specific gaps, and the questions you lost points on are the list. Below ten, the relationship deserves a full independent review before it costs you real money.
Score it interactively first
This article is the manual, partner-focused version. For a scored result across the same eight areas in a few minutes, use the interactive Program Scorecard tool — it gives you a total, a band, and category-by-category results with no sign-up. Then come back here to go deeper on what the score means for the partnership itself.
However you answer, answer from evidence, not memory — with your last statement in front of you. "I could find out" scores zero; the entire point is what you can verify today.
The transparency questions
1. Can you list every fee in your program and who receives each one? This is the foundation. If you cannot itemize the costs, nothing downstream can be evaluated. The transparency framework shows what the full list looks like.
2. Do you know your total expense load as a share of premium? One ratio, comparable across any program. Knowing it cold is the difference between managing and trusting.
3. Have your fees been reviewed or renegotiated in the last three years? Programs priced at half your current volume are quietly mispriced today.
The reporting questions
4. Can you find your loss ratio, by product line, on your current statement? Aggregate numbers hide the product that is eating the others. Product-level reporting is the standard to hold.
5. Does your reserve balance reconcile from statement to statement? Ending balance last period should equal beginning balance this period, with movement explained.
6. When you ask a reporting question, do you get a clear answer within days? Responsiveness on small questions predicts behavior on big ones.
The structure and performance questions
7. Do you know why you are in your current structure instead of the alternatives? "It’s what we were offered" scores zero. The structures comparison is the reference; your volume and goals are the test.
8. Is your product mix reviewed annually against its loss ratios? The ceded mix is a dial, and unturned dials drift.
9. Do you know your options and costs if you wanted to exit or change programs? Exit terms read for the first time during a dispute are always read too late.
The partnership question
10. Has your provider ever proactively flagged something that cost them revenue — a fee to remove, a product to pull, a structure change that fit you better? This is the highest-signal question on the card. Partners exist; order-takers are more common.
Scoring and what to do next
16–20: protect what you have. Keep the annual review habit and the benchmarks fresh.
10–15: your zeros are your work list, in order. Most fixes here — reporting standards, fee reviews — can be upgraded in place without switching anything.
Below 10: you are running a material financial position on faith. An independent, educational review of the statements, fees, and structure is the next step — before renewal, not after.
When to ask for help
Elite FI Partners runs this same review with dealers on their real statements: fees reconciled, reporting benchmarked, structure pressure-tested. It is educational, and the score you end with is yours either way.
Frequently asked questions
How do I know if my dealer reinsurance program is good?
Test what you can verify today: every fee itemized and explained, expense load known as a share of premium, product-level loss ratios visible on statements, reserves that reconcile period to period, clear exit terms, and a provider who answers questions quickly. Strong programs pass those checks; weak ones rely on trust instead.
How often should I audit my reinsurance program?
Run the ten-question scorecard annually and read every statement as it arrives. An annual rhythm catches fee drift, loss-ratio trends, and reporting decay while they are still cheap to fix, and it keeps your leverage fresh ahead of any renegotiation.
What if I can’t answer most of the scorecard questions?
That result is common and fixable. Start by requesting itemized fees and product-level reporting from your provider in writing. If the answers do not come, that is itself the finding — and the point where an independent review of your program earns its cost.
This article is educational and is not tax, legal, or accounting advice. Reinsurance decisions should be reviewed with qualified professionals on your dealership’s actual numbers.