PrimeGuard Unable to Cover Outstanding Claims
PrimeGuard Insurance Co., is unable to cover outstanding claims after failing tens of thousands of extended vehicle service plans, reported Automotive News.
PrimeGuard Insurance Co., is unable to cover outstanding claims after failing tens of thousands of extended vehicle service plans, reported Automotive News.
The Hawaii-based company, declared bankrupt by the court in December, was then liquidated in January.
It was estimated that PrimeGuard has $7 million in reserves and more than 40,000 parties could file claims against the company’s assets.
Hawaii’s First Circuit Court has approved a procedure creditors must use to file claims against PrimeGuard’s assets. The deadline for filing claims is November 30. The potential creditors include customers who bought service contracts, dealerships, repair facilities and vendors.
PrimeGuard marketing affiliates have been ordered to stop selling PrimeGuard contracts.
More F&I
AI: Facilitator, Not Fixer, in F&I
The dealerships that thrive in the years ahead will be those that embrace technology while continuing to invest in the people who make customer interactions count.
Read More →
Modern Technology Objection Handling
In this video, Trent White shares how to confidently handle technology-based objections by helping customers understand the value of protection, even with modern vehicle technology.
Read More →
Consistency at Scale: Driving F&I Performance
With 75 rooftops across the Sunshine State, Morgan Auto Group has proven to Floridians that it knows a thing or two about driving performance in a competitive market. But it didn’t start at the top.
Read More →
Gitty Up on GAP
The foundational finance-and-insurance product hasn’t kept up with the latest conditions for auto dealers. Is the time ripe?
Read More →
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →