Dealers know they have millions worth of equipment and inventory at their facility, requiring complex insurance to protect them. Risk Point Underwriters hired a new executive on Thursday to ensure its products and services meet store demands.

The company that offers programs for dealer open lot and garage package for franchised auto, motorcycle, RV and heavy truck dealerships announced that Scott Hoy has been named executive vice president for the specialty auto dealer underwriting unit.

Risk Point Underwriters said Hoy will be responsible for driving profitable growth and delivering customer excellence through independent agents.

Bryan Wilburn is president and chief executive officer of the parent company, Risk Theory. Wilburn said in a news release, “We are excited to add Scott to our company. He brings a proven leadership track record, impressive industry reputation, vast insurance experience, relationships, and knowledge specific to our dealership insurance offerings.”

Hoy’s leadership background in these industries and niche specialization comes from 25 years of experience at Victor, Marsh & McLennan’s managing general agency business; SeaFire Insurance Services, a managing general underwriter specializing in automotive dealerships; as well as the national vice president of sales for Zurich and Universal Underwriters Group.

“As the largest automotive dealership insurance program in the country available to independent agents, I am very excited to join the Risk Theory team,” Hoy said.

“I look forward to working with the most experienced leadership team in our industry, and continue their success providing world class insurance solutions to dealerships across the country,” he went on to say.