Texas-based Warrantech Corporation, which administers service contracts and extended warranties for automobiles, recreational vehicles and other consumer products, announced its new reinsurance program targeting large automobile dealerships that launched in January 2002 is growing rapidly.
Under an agreement with Automotive Investment Group, a leading general agent on the East Coast, Warrantech began marketing the new reinsurance program on Jan. 1. To date, several clients have signed up for the extended warranty program, that is insured through Heritage Insurance Risk Retention Group.
As a result, new warranty contracts on this program are currently exceeding 2,000 contracts per month a 20 percent increase in business volume for Warrantech’s Automotive Division.
Topics Reinsurance
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