AmWins Launches New Automobile Repossession Program

AmWINS Group, Inc. has developed an exclusive program with an A.M. Best rated A+XV carrier to provide coverage for the auto repossession industry. This insurance program is designed specifically for the repossession industry and is available in all states except Mass. and N.J.

“This program is specifically structured to meet most lenders’ requirements,” said Ted Hosterman, senior vice president at AmWINS Brokerage of Texas, who specializes in transportation coverage and developed the program. “In addition, it also includes coverage extensions to allow for the exposures presented by this class. This program is based on a similar one previously written for a major industry trade group and we’re now able to offer this program to all operations that meet our qualification criteria regardless of industry affiliations.”

Coverages will be written on a non-admitted basis for commercial general liability (CGL) and inland marine (IM). The auto liability (AL), auto physical damage (APD), and garage keepers legal liability (GKLL), which includes in-tow coverage, will be written using admitted paper.