EVs, in particular, Tesla, as the current (Q01Y23) market leader, are showing a higher total loss frequency. In other words, even minor damage has a greater chance of being “totaled” by the insurance provider, rather than just repaired. More Total Losses? A story in Car & Driver explains how Tesla vehicles are often deemed “total …
Tesla & Other Electric Vehicles (EVs): Cost to Repair or Total Read More »
GAP is a valuable and popular loan protection product. It helps reduce loan portfolio risk, while protecting auto loan borrowers, and providing them peace of mind. However, sloppy marketing and sales tactics can get you in some real trouble. And facing a hefty fine. Let’s make sure you’re presenting GAP appropriately and accurately! To help …
How does the routine and common practice of signing a Letter of Guarantee with your borrower’s physical damage insurance company become a legal nightmare for you? Simple. You signed up for it. As is standard procedure, when a borrower totals his or her car, the insurance company sends the lien holder a summary letter and …
Don’t Sign on the Dotted Line: Letters of Guarantee & Legal Jeopardy Read More »
Another regulatory/legal issue to worry about? Sorry! We’re here to help you prepare. In truth, the emerging risk shouldn’t surprise the banking industry. You’re already used to addressing NSF and OD fee class-action suits, ADA legal action, and, oh yeah, the effects of COVID-19. What’s one more thing? It could be a lot. From a …
Auto Loan Product Refund Liability: Is Your Institution Exposed? Read More »
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