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Auto Dealer Monthly- Honcker Raises $3.6 Million, Expands to Eight StatesHoncker announced the closing of a seed financing round led by Evolution Corporate Advisors and the expansion of its car leasing marketplace into a total of eight states.
- TradeRev Announces Sales Leadership ChangesTradeRev has enhanced the role of Executive Vice President Keith Crerar while promoting Will Farmer to executive director of U.S. dealer sales and hiring Vince McNeal as executive director of commercial sales for the U.S. and Canada.
- Fastlane Partners With F&I ExpressFastlane has partnered with F&I Express to incorporate VIN-specific vehicle service contract and aftermarket pricing in its dealer-focused online car-buying platform.
- New York AG Reaches Two New Settlements in Payment Packing CrackdownThe attorney general's two-year crackdown on payment packing and the unlawful sale of credit repair services has resulted in 13 dealership settlements and more than $19 million in total restitution and penalties.
- Assurant to Buy The Warranty Group in $2.5 Billion DealUnder the transaction agreement, Assurant Inc. will become a wholly owned subsidiary of TWG Holdings Limited, whose name will be changed to Assurant Ltd. Assurant shareholders will own approximately 77% of the combined company, while TPG and its affiliates will own the remaining 23%. The transaction is expected to close in the first half of 2018.
- Zanan to Release Guide to Digital SuccessAutomotive retail and compliance expert Max Zanan is set to release ‘Perfect Dealership,’ a new book designed to serve as an auto dealer’s guide to surviving the Digital Age.
- CarStory Launches Dealer Sales Prediction LeaderboardCarStory’s new, AI-driven predictive analytics interface was designed to show dealers how their sales will rank in their local markets.
- Non-Houston Used-Vehicle Values FallDepreciation increased for both cars and light trucks, with car segments recording the highest weekly depreciation in seven weeks. Prices in the Houston-area, however, remain elevated, according to the firm.
- vAuto Founder Dale Pollak Publishes Fourth Book For Retail Automotive‘Like I See It’ has already achieved best-seller status based on preorder sales. The book devotes chapters to margin compression, increased OEM control and financial reliance of their dealer partners, technology disruption and consumer preferences for digital retailing.
- AutoGravity Expands Dealer Development TeamThe fintech firm named Chuck Schofield vice president of dealer sales. The new executive previously served as a regional senior manager for Mercedes–Benz Financial Services. He now joins AutoGravity cofounder Aleks Bogoeski in expanding the firm's dealer network development program.
- Honcker Raises $3.6 Million, Expands to Eight States
- Auto Rental News
- Sixt to Create 300 Jobs at New Florida HeadquartersSixt North America has selected Fort Lauderdale as the location for its new expanded North American headquarters. The expansion will create 300 new jobs and invest $10.4 million in the local community.
- car2go Adds Mercedes-Benz Vehicles to Portland Fleetcar2go has updated its Portland, Ore., fleet to be fully comprised of compact Mercedes-Benz CLA and GLA vehicles. The company will retire its two-seater smart fortwo vehicles.
- Is Ride-Hailing Reducing Number of Vehicles on Road?A study by the University of California Davis’ Institute of Transportation Studies looked at the adoption, utilization, and impacts of ride-hailing (Uber and Lyft) in the United States.
- Enterprise Offers Disaster Relief Aid to Puerto RicoEnterprise Rent-A-Car Foundation made three donations totaling $250,000 to assist with immediate needs of those in Puerto Rico after Hurricane Maria.
- Fuel Cell Electric Carsharing Program to Launch in CaliforniaStratosFuel Inc., a developer of hydrogen fueling stations, received a grant to start its Fuel Cell Electric Vehicle (FCEV) carsharing service in the cities of Ontario and Riverside.
- car2go Skill Now Available for Amazon AlexaWith a car2go membership and an Alexa-enabled device, customers can reserve a car2go vehicle via voice commands.
- Sixt Opens at San Diego International AirportSixt Rent-a-Car officially opened in the San Diego International Airport yesterday with a ribbon-cutting ceremony in the airport’s consolidated rental facility.
- Sixt San Diego International Airport OpeningSixt Rent-a-Car officially opened in the San Diego International Airport yesterday with a ribbon-cutting ceremony in the airport’s consolidated rental facility on Oct. 16, 2017. (Photos by Chris Brown and Matt Faraci.)
- The Problem with Valuing Safety TechnologyAs advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.
- Latin American Meeting Addresses Challenges, Trends in Rental MarketThe Latin American Meeting will be held on Monday Nov. 6 from 8:15 a.m. until 9:55 a.m., before the start of the Auto Rental Summit.
- Sixt to Create 300 Jobs at New Florida Headquarters
- Insurance Journal
- The Hartford to Buy Aetna Group Life, Disability Business for $1.45 BillionThe Hartford has agreed to acquire Aetna’s U.S. group life and disability business for cash consideration of $1.45 billion. This acquisition enhances The Hartford’s group benefits distribution capabilities and accelerates the company’s technology strategy, according to the announcement. “The transaction …
- Opioid Abuse Has Leveled Off But Isn’t Declining: ASA AnalysisWhile the upswing in opioid abuse has leveled off, the level does not appear to be declining and remains disturbingly high, according to an analysis of national data presented at the American Society of Anesthesiologists (ASA) annual meeting. More than …
- Dutch Insurer Aegon Eyes Acquisitions Such as Smaller Competitor ASRAegon NV, the Dutch insurer that generates most of its business from the U.S., is scouting for acquisitions and has looked at companies including smaller rival ASR Nederland NV amid consolidation in the domestic market, according to people familiar with …
- Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower FireInsurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed up to 80 …
- Court Sides with Florida Gov in Battle Over Nursing Home GeneratorsFlorida Gov. Rick Scott has won the first round in a legal tug-of-war over his mandate that nursing homes and assisted living facilities install generators. The 1st District Court of Appeal on Thursday rejected a legal challenge to emergency rules …
- CoreLogic: Hurricane Nate Property Damage Could Top $1BHurricane Nate preliminary loss estimates are estimated to be between $650 million and $1.35 billion, according to CoreLogic. The loss estimates were calculated based on data analysis, total insured and uninsured loss for both residential and commercial properties, including damage …
- Pratt Named Chief Agency Officer at North Carolina-Based SUNUP Insurance ServicesLarry Pratt has joined SUNUP Insurance Services, headquartered in North Carolina, as the chief agency officer. Pratt will be responsible for leading agency operations for the company. He comes to SUNUP with experience in agency distribution, including extensive experience in …
- Admitted Carriers, CanaBOP Coming to California’s Cannabis IndustryThe first admitted insurance carrier has filed to provide coverage to California’s legal cannabis industry and several more carriers have stated their intent to file products, according to state Insurance Commissioner Dave Jones. It also appears that standardized insurance forms …
- Swiss Re Adds Management Liability Coverage for Non-Profits, Private CompaniesSwiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies. SwissGuard insures against directors and officers liability, employment practices liability and fiduciary liability …
- Brown & Brown Acquires Louisiana Employee Benefits FirmBrown & Brown of Louisiana LLC, a subsidiary of Florida-based Brown & Brown Inc., has acquired substantially all of the assets of Lapeyre, Staples & Robichaux, the companies announced. Lapeyre, Staples and Robichaux, based in Houma, Louisiana, specializes in employee …
- The Hartford to Buy Aetna Group Life, Disability Business for $1.45 Billion
Monthly Archives: June 2010
Negotiated Medical Payments are Collateral Sources says Minnesota Supreme Court
In Swanson v. Brewster, Ct. File AO8-8O6, a decision of the Minnesota Supreme Court released on June 29, 2010, the court held that negotiated-discount amounts—amounts a plaintiff is billed by a medical provider but does not pay because the plaintiff’s … Continue reading
Posted in BAP, CGL, Coverage
Tagged CGL Coverage, Commercial Liability Coverage, Gregory J. Johnson, Insurance Law
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Lost Policies: Burdens of Proof
What happens when you cannot find an old liability insurance policy? Here’s a few ground rules. It is well established that the burden of demonstrating liability coverage rests upon the insured. See, e.g., Domtar, Inc. v. Niagara Fire Ins. Co., … Continue reading
Posted in BAP, CGL, Coverage
Tagged CGL Coverage, Commercial Liability Coverage, Gregory J. Johnson, Insurance Law, Lost Policies
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Pro-Rata Time on the Risk: An Insured’s Contribution Obligation
Wooddale Builders, Inc. v. Maryland Cas. Co., 722 N.W.2d 283 (Minn. 2006) is the leading construction defect case in Minnesota. The case involved several insurers (I represented West Bend) and over eighty separate water intrusion claims. In that case, the court recognized, … Continue reading
Can a Self-Insured Retention (“SIR”) Constitute “Insurance”?
Can a self-insured retention (“SIR”) or large deductible under one policy constitute “insurance” within the meaning of another insurer’s “other insurance” clause? This situation typically arises in cases where the mutual insured (1) is a named insured under a liability … Continue reading
Can a Claims Adjuster’s Conduct/Statements Bar an Insured’s Affirmative Defenses?
Can an insured be estopped to assert a statute of limitations defense based on the conduct or statements of a liability insurance claims adjuster? Possibly. It has been held that a liability insurer can act as the insured’s agent when adjusting claims arising … Continue reading
Posted in ADCF Policy, CGL, Coverage
Tagged CGL Coverage, Commercial Liability Coverage, Construction Defect, Insurance Law
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Minnesota Contractual Risk Transfer Materials (1/2009)
A contract is an agreement in which each party promises to do something for the other party. Usually, one party agrees to provide goods or services while the other party agrees to pay for those goods or services. Unfortunately, during … Continue reading
No CGL Coverage Where General Contractor Leaves in the Middle of Project
In Builders Mutual v. R Design, 2010 WL 2079741 (D.S.C.), a federal district court in South Carolina found no coverage exists under a CGL policy, despite “resulting damage,” when the general contractor performed faulty work and left in the middle of the … Continue reading
