Under the transaction agreement, Assurant Inc. will become a wholly owned subsidiary of TWG Holdings Limited, whose name will be changed to Assurant Ltd. Assurant shareholders will own approximately 77% of the combined company, while TPG and its affiliates will own the remaining 23%. The transaction is expected to close in the first half of 2018.
The new warranty doubles the automaker's current three-year, 36,000-mile warranty. Called the People First Warranty, the coverage can be transferred to subsequent owners for up to six years or 72,000 miles from the date it was first sold new.
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.
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. Dealer trade groups believe the OEM’s stated goal of enhanced ‘safety and transparency’ is not the real reason for the new policy.
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.
Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.
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.
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