Lloyd's to Underwrite Warrantech GAP Program
BEDFORD, Texas -- Lloyd's Insurance Syndicate has agreed to appoint Warrantech Corp. for its new GAP program.
BEDFORD, Texas -- Lloyd's Insurance Syndicate has agreed to appoint Warrantech Corp. for its new GAP program. Warrantech Automotive Inc., a wholly owned subsidiary of Warrantech, will begin offering this program immediately to its dealer clients.
The appointment by the syndicate of Lloyd's of London will allow Warrantech to offer coverage in all states in which GAP insurance is authorized. According to the terms of the underwriting agreement, Lloyd's will insure the first 36 months of each contract's term. If a contract term exceeds 36 months, another specialty insurance firm will insure the remaining period.
"We are very pleased that Lloyd's, an internationally known and highly respected insurer, has agreed to underwrite the GAP Automotive program," said Joel San Antonio, chairman and CEO of Warrantech Corp.
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