Virginia Surety Announces Administrative and Marketing Agreement with The Penn Warranty Corp.
CHICAGO – Virginia Surety Company, Inc. (VSC), a subsidiary of The Warranty Group, Inc., has reached an agreement with The Penn Warranty Corporation to provide underwriting and actuarial support for its pre‐owned vehicle service contract program.
“Its robust offerings combined with Virginia Surety’s expertise in underwriting, customer acquisition and retention create a compelling alliance,” said Mike Frosch, senior vice president of VSC. "Both The Penn Warranty Corporation and its customers will benefit from this industry‐leading approach to value and brand loyalty."
“We are pleased to offer our customers underwriting solutions from an A‐rated provider in VSC,” said Jude Tuma, president and CEO of The Penn Warranty Corporation. “In addition, this agreement establishes a solid growth platform, from which we can extend our market presence, while maintaining our industry‐leading service contract plans and high level of customer satisfaction.”
More Industry
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
Consumer Outlook on the Rise
Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.
Read More →
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →