iA Financial Group, one of the largest life and health insurance companies in Canada, has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. The acquisition is expected to more than double the firm’s vehicle warranty business.
Aside from the promotion of Nieves, who has been with the company for more than 20 years and previously served as national accounts manager, AUL announced the promotion of Henry Paoli to national sales manager.
General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
Three days after the New York attorney general's office reached settlement with a dealer for tacking on etch after customers agreed to prices for vehicles and often without their knowledge, New Jersey Attorney General Christopher Porrino reached an agreement with Sansone Hyundai to settle similar charges.
The new plans are designed to appeal to buyers of older vehicles who desire investment protection at a reasonable cost, officials said. It also encourages dealers to retail units profitably they would otherwise wholesale for a loss.
KISS Concepts Group's Rod Heasley will head up a new division at American Auto Shield dedicated to the launch of a new customizable VSC program. The union marks American Auto Shield's entrance into the dealer arena after focusing exclusively on direct-to-consumer opportunities.
The merger creates what officials describe as the largest vehicle service contract payment plan provider in the United States. The new entity will operate under the PayLink Direct brand. Rebecca Howard, cofounder of PayLink Direct, will serve as CEO.
The new vehicle service contract offering follows a redefinition of CNA’s vehicle classing system preceded by a thorough rate review. The new offering includes coverage for rideshare vehicles titled to private individuals.
The German automaker recently announced it will offer a six-year or 72,000-mile warranty on its Atlas mid-size SUV and Tiguan compact SUV for the 2018 model year. The upgraded warranty marks a significant upgrade from the 2017 Tiguan.
SelectCare was designed to cover parts not covered by the factory warranty, vehicle service contract or prepaid maintenance plan.
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