ST. LOUIS – Rob Berger, executive vice president at Wise F&I LLC, was recently elected to serve as president of the Guaranteed Asset Protection Alliance (GAPA). GAPA, as an organization, was established in 2006 and is comprised of companies who offer Guaranteed Asset Protection (GAP) products. The purpose of GAPA is to monitor and lobby ... Read More »
COLUMBIA, S.C. — As of Dec. 1, F&I offices operating in the state have a new set of rules to follow when selling guaranteed asset protection (GAP). While the new law mainly clarifies what GAP is and does, it also defines when the protection can be sold. The state’s Guaranteed Asset Protection Act requires that ... Read More »
SCOTTSDALE, Ariz.—CNA National has announced that as of August 2015, it now has more than three million contracts in force across its product lines, including vehicle service contracts, GAP, tire-and-wheel protection, and warranties. “This is a wonderful accomplishment for everyone who is part of CNA National,” said Joe Becker, president and chief executive officer. “Passing ... Read More »
BALTIMORE — A federal judge threw out a proposed class-action suit last month against the Pohanka Auto Group, which claimed the dealer group’s GAP coverage was “phony” because it did not meet the definition of a debt-cancellation agreement under Maryland law. Judge Deborah K. Chasanow dismissed the putative class action against Pohanka’s 11 dealerships because ... Read More »
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