FOR IMMEDIATE RELEASE
(Florida, April 2020–) The upstart charity F&I Providers Relief Fund for F&I Managers has announced its 7-member board of directors and a $1 million fundraising goal to help professionals in the F&I industry facing hard times.
Founded only two weeks ago by National Auto Care CEO Tony Wanderon, the F&I Providers Relief Fund (F&IPRF) has brought nearly 20 F&I providers together and has now raised close to $300,000 to provide financial grants exclusively to F&I managers who are dealing with financial hardships due to COVID-19.
Portfolio Holding Inc. today announced it has agreed to acquire National Automotive Experts/NWAN, a Strongsville, Ohio-based F&I products provider and administrator.
Full Article: https://www.naenwan.com/2020/03/09/portfolio-acquire-nae-nwan/
The New York Department of Financial Services fined Asurion Insurance Services and Asurion Protection Services $4 million for providing inadequate consumer disclosures for insurance offerings.
Full Article: https://insurancenewsnet.com/innarticle/ny-fines-insurer-4m-for-inadequate-consumer-disclosures#.XlgCmpNKhTY
Attorney General Josh Shapiro announced that his Office has filed a civil lawsuit against extended automobile warranty company Delta Auto Protect to get money back for consumers and repair shops…
Full Article https://www.attorneygeneral.gov/taking-action/press-releases/ag-shapiro-suing-delta-auto-protect-to-get-money-back-for-consumers-in-repair-scam/
The National Advertising Division (NAD) has recommended that Choice Home Warranty modify or discontinue certain claims regarding its home warranty service plans.
Full Article: https://finance.yahoo.com/news/national-advertising-division-recommends-choice-165100409.html
UPDATE: The shutdown driven by the CoronaVirus will greatly impact every category in 2020. This should be viewed as a run rate prior to the shutdown.
For 2020 Personal Safeguards Group projects over $61b at retail for consumer related service contracts.
Automotive continues to lead the industry in terms of gross revenue with 2020 projected at over $33b for Vehicle Service Contracts and over $6.4b for Ancillary products.
After, Inc., the global leader in Warranty Marketing and Analytics Solutions since 2005, has just announced the return of Scott Morrison, an original founder, to lead new business development and strategic innovation for the company.
Combination Creates Leading Aftersales Dealer Services Platform
Dent Wizard to Continue to Operate Independently Under Leadership of CEO Mike Black
Move Accelerates Frontdoor’s Journey to Connect Customers and Home Services Professionals, Expand Revenue Opportunities and Improve Productivity