V3 Introduces Auto Dealer Insurance Program from A+ Rated Carrier with Optional Red Flags coverage

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22 Jul 10

V3 Insurance Partners LLC, a specialty multi-line managing general underwriter, today introduced a multi-line insurance program for auto, truck and RV dealerships, wholesalers and auto auctions.

Called DealerV3antageSM, the program is designed specifically for small to mid-sized, rural and suburban, non-franchised and franchised dealers. The policy is offered through a financially sound insurer with an A+XIV rating.

The program provides Garage Liability, Dealers Open Lot, GKLL, Auto, GL, Property, Inland Marine and Crime. In addition, the following Errors and Omissions coverages are available: Odometer and Prior Damage Disclosure E&O, Title E&O, Employment Benefit Liability E&O, Consumer Leasing and Truth in Lending E&O, Dealership Agent E&O and Retail Customer Complaint Legal Defense Reimbursement.

DealerV3antageSM contains an enterprising coverage extension that provides optional consumer credit privacy E&O, or “Red Flags” coverage. Under the Federal Trade Commission’s Red Flags rules slated to go into effect on December 31, 2010, auto dealers are liable for damages to consumers from identify theft due to dealer negligence.

“Despite dealers’ best efforts to protect their customers’ privacy, information can be stolen, misdirected or improperly shared by third parties,” explained Don Barrand, V3’s Transportation Practice Leader. The coverage pays for damages caused by a wrongful act which results in a civil violation of the Fair and Accurate Credit Transactions Act (FACTA).

“Nobody understands auto dealers better than Don Barrand,” said Susan Rivera, CEO of V3. “He helped pioneer commercial auto programs and has been a leading force ever since. DealerV3antageSM provides what dealers want and need: excellent coverage with great financial security.”
The DealerV3antageSM program will be written by a select group of agents highly experienced in auto dealership coverage. For more information please contact Don Barrand at 215-600-0744 or at Don.Barrand@v3ins.com

V3 Insurance Partners LLC is a specialty multi-line managing general underwriter offering programs targeted at small to mid-sized companies. Its four major practice groups Transportation, Professional Lines, Internet Workers Compensation and Property/Casualty are managed by industry leaders chosen for their expertise, creativity and integrity. “V3 stands for vision, value and virtue,” says president and CEO, Susan Rivera. “We have a commitment to market leadership and are uniquely positioned to anticipate clients’ needs, to offer quality service that exceeds expectations and to deliver genuine value based on years of experience.”