ACC WARRANTY NEWS, EVENTS and PRESS RELEASES:

For immediate release:

THE ACC WARRANTY SERVICES GROUP EXPANDS AND RELOCATES


INDIANAPOLIS, IN — ACC Warranty Services Group Finalizes Relocation. ACC Warranty Services Group is pleased to announce the completion of its planned corporate expansion and relocation to Indianapolis offices.

"The Indianapolis move represents a great opportunity for new business development in the RV and auto markets along with a significant reduction in our operating expenses."

"With nearly 80% of all RV manufacturers and suppliers based in Indiana this is a natural fit for us."

The address of the newly expanded offices and headquarters is:

ACC Warranty Services Group -8888 Keystone Crossing 13th Floor
Indianapolis, IN 46240
Toll Free.(888) 299-9888

www.accws.com

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Atlanta Company Buys ACC Finance

Date: Monday, February 19 2007

ACC Finance, a subprime auto lender, has been sold to CompuCredit Corp., an Atlanta finance company.

CompuCredit, which announced the sale Feb. 2, did not disclose the price it paid, but said ACC currently services about $275 million in auto finance receivables.

The company buys and services auto loans made by dealers to borrowers with limited or past problems with their credit histories. The firm did much of its business through credit unions, which have tightened up underwriting standards in the wake of the failure of major auto lending entities.

In conjunction with the acquisition of ACC, CompuCredit also purchased a $195 million auto loan portfolio from Patelco Credit Union.

For the third quarter of last year, CornpuCredit reported net income of $38.8 million compared with net income of $52.7 million for the like period of 2005. The firm's managed portfolio as of Sept. 30 was $2.7 billion, up from $2.4 billion at the third quarter of 2005.

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05/22/2007 - ACC Warranty Services Group is pleased to announce that a former executive of American Honda Financial Services has joined us as a senior consultant in the Indianapolis, IN office to apply his extensive automotive industry consulting and business experience.

ACC Warranty Services Group provides service program and warranty consulting services to the automotive, RV, and limousine industries at the dealer and manufacturer levels along with consumer level products and support. ___________________________________________________________




04/25/2008

ACC EXPANDS PRODUCT LINEUP TO INCLUDE FULLY INSURED A RATED AUTO WARRANTY AND POWERSPORTS WARRANTY

INDIANAPOLIS, IN — ACC Warranty Services Expands Product Lineup. ACC Warranty Services Group is pleased to now offer Auto, Truck and Powersports Warranty in addition to our industry-best RV Warranty Programs. The new programs are fully backed by an admitted A rated insurance carrier (Not an RRG) and are being marketed through dealers in most states.

"The addition of these new product lines and our recent online claims process will allow ACC to take full advantage of all additional opportunites in the marketplace." "We forsee another record year of growth in light of the overall downturn in our markets due to today's consumers holding on to their vehicles for longer periods of time."

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– The ACC Warranty Group, www.ACCWS.com, has announced a multi-year agreement to provide zero percent interest consumer financing through its ACC Sales-Finance unit. The ACC Finance program is unique in today’s marketplace due to the fact that it is guaranteed to all consumers with no credit check and offers a zero percent interest rate for twelve months.

The private label financing program provides special credit allowances that simplify payment options on initial and on-going purchases. Key benefits of the program include no annual fees, 24-hour account access, online payments, zero percent interest and low minimum monthly payments. In addition, the program is fully transferrable.

“ACC now has the best consumer-oriented RV warranty program we have seen,” said Scott Ring. “It is extremely fair, attractive and sensitive to the current needs of RV dealers and most importantly existing RV consumers.

The combination of ACC’s depth of buying, low prices and now free financing will materially increase the opportunity for our dealers and partners to deliver warranty products to families across America.”

“This finance option is also approved for use in conjunction with the recently launched ACC Monaco Coach warranty program, the ACC Country Coach warranty Program, and the ACC Fleetwood warranty program in response to the Chapter 11 filings by those manufacturers.”

According to the RVIA, more than 1.2 million RV’s have been shipped to dealers during the past 4 years. With the current economy, more and more consumers are putting off trading for a new unit and are now out of factory warranty coverage. When you combine those numbers with the amount of RV’s built by manufacturers who are no longer in business, there is a great opportunity for ACC to step in and fill a large vacuum in today’s RV market.

“An extended warranty ensures years of trouble-free ownership without the fear of unexpected repair costs,” said Louis Pagliarini, vice president of sales for GE Money. “Consumers who maintain warranty coverage are proven to enjoy a better ownership experience.”

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Norcold Recall - Norcold RV Refrigerator Recall - Norcold RV Recall

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MAHINDRA VEHICLES TO HIT U.S. AUTO MARKET IN 2009 WITH 4 YEAR BUMPER TO BUMPER WARRANTY

05/15/2009 - A new generation of clean-burning, diesel-powered vehicles is poised to take on the American market this year. Mahindra of India will offer a free, four year bumper to bumper warranty designed by a US warranty consulting firm. The decision to bring in an outside firm was made in order to optimize the warranty for the American marketplace. ACC Warranty Group (www.accws.com) was chosen for its grass-roots level contact with dealers, manufacturers and consumers alike.

The Mahindra Group (www.mahindra.com), one of India’s largest industrial concerns, produces a comprehensive variety of cars and trucks, including a new line of value-priced diesel-powered pickup trucks which, when they launch in the fourth quarter of 2009, will be first Indian-made motor vehicles to debut in the United States. The company is planning to provide all vehicles with a four-year/60,000-mile, bumper-to-bumper warranty.

“The U.S. continues to be the world’s most important automotive market in terms of size, growth and opportunity,” said Dr. Pawan Goenka, president of Mahindra’s Automotive Sector. “Mahindra’s entry into the U.S. auto market is a significant step not just for our company, but for India. We look forward to working with our importer, Global Vehicles, and its impressive dealer network to make Mahindra a U.S. success story.”

Over the past few years, Mahindra has methodically expanded its footprint beyond India. The growing demand for its vehicles and the need for local representation to better address foreign markets led to the establishment of Mahindra South Africa and Mahindra Europe (in Italy), as well as distributorships in other countries. In addition, Mahindra assembles its vehicles in Brazil, Egypt and Uruguay for the respective markets.

Additionally, the company recently signed joint ventures with Renault to produce vehicles for its domestic market and selected export ones.

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May 29, 2009 - The ACC Warranty Services Group (www.accws.com) has completed the launch today of an unlimited RV towing and roadside assistance program for all new ACC customers. The program is unique in today’s RV marketplace due to the fact that it provides for true unlimited RV towing and RV roadside service benefits.

Normal towing and roadside assistance programs do not adequately cover the expenses that are experienced by owners of a motorhome or fifth wheel. A motorhome towing bill wil easily exceed the limits of normal roadside assistance plans.

The ACC joint-venture RV towing program provides RV owners with an increased level of support and service they are not currently receiving from normal towing plans. Some key benefits of the program are; no annual fees, 24-7 service by phone or online, immediate payments to service providers, no paperwork, and no reimbursements. In addition, the program offers free trip planning assistance and up to $1500 in trip interruption benefits at no charge to the customer.

“ACC is always looking for ways to improve its RV offerings.” said Stephen Burgess of ACC. “Most of the RV programs we represent today offer only $100 to $300 of towing coverage and road service reimbursement."

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Navistar International Corp. announced today (June 4, 2009) that it has completed the purchase of certain
assets of Monaco Coach Corp. for approximately $47 million.


The new company, named Monaco RV LLC, will be a wholly owned affiliate of Warrenville, Ill.-based Navistar Inc., Navistar’s principal operating company, and will be headquartered in Coburg, Ore.

“Navistar’s entry into the RV business through the purchase of certain Monaco Coach assets fits into our strategy of leveraging our assets to expand our diesel business, serve the end customer through robust parts and service and will complement our Workhorse chassis business,” said Jack Allen, president of Navistar’s North American Truck Group. “The Monaco brand is a market leader with a
strong reputation and Navistar is pleased to add it to our portfolio of leading brands and businesses.”


“Providing the RV market with the right vehicles at the right time will be Monaco RV’s first order of business,” Allen continued. “Our management teams will spend these first few weeks ramping up the business at a pace commensurate with demand.”
Monaco RV LLC will be much leaner than the old Monaco Coach Corp., which was also based in Coburg. The new company will reportedly hit the ground running by making a number of key moves in the coming days, according to Monaco RV spokesmen:

The new business is under the direction of former Chairman and CEO Kay Toolson, who will report to Allen. Among the other returning Monaco executives is Mike Snell, now senior vice president of sales and product development, Charlie Kimball, now senior vice president of operations, and Richard Bond, senior vice president and general counsel. Pat Carroll, (product development), John Healey (purchasing), Garth Herring, (parts and service) and April Klein (customer service) are also part of the
Monaco RV team, as is Marty Garriott, who will return to run the Oregon operations, and Irv Yoder, who’s back to oversee Indiana operations.

Former Monaco President John Nepute and former CFO Marty Daley will join Navistar in other corporate roles, but will not be a part of Monaco RV. “We are going to produce models and brands that are in the most demand by our dealer body, but
fewer than before,” Snell said. “Our plan is to begin producing at a low rate at all of our facilities based on a smaller group of dealers and the business model we are adapting to.”

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Wednesday, June 10, 2009

PEMBROKE, Bermuda

RenaissanceRe Holdings Ltd. (NYSE: RNR) today announced the appointment of Jeffrey D. Kelly as Executive Vice President and Chief Financial Officer, effective July 6, 2009.Mr. Kelly will succeed Fred R. Donner, who is leaving the Company for personal reasons to return to the United States. Mr. Kelly, 55, formerly served as Chief Financial Officer of National City Corporation from 2000 until his retirement from the company in 2008. Mr. Kelly had also served in the additional post of Vice Chairman from 2004. Mr. Kelly is a member of the board of directors of The Progressive Corporation, where he serves as Chairman of the Investment and Capital committee.

Neill A. Currie, President and Chief Executive Officer of RenaissanceRe, said, "Fred has been a valued member of our team for the past three years, leading the further development of our accounting, control and financial reporting functions, expanding the talent and expertise of our finance function, and providing important input into our strategic growth plans. We thank Fred for his contributions to RenaissanceRe and wish him well.

"Jeff brings RenaissanceRe a wealth of experience from a nearly 30-year career at one of the United States' largest diversified financial institutions, serving in its most senior finance role until his retirement last year. His experience at National City includesresponsibility forseveral of its core banking businesses, large staff groupsandformany years, managing its interest rate and market risk management activities. We will benefit from Jeff's broad experience and leadership skills as we further develop the RenaissanceRe platform by capitalizing upon our leading underwriting, risk management and modeling expertise over the coming years," concluded Mr. Currie.

Mr. Kelly, who will be based in Bermuda, will also join the Company's Executive Committee. Mr. Donner will serve as an advisor to the Company through September 30, 2009 to help with the transition of responsibilities.

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. Our business consists of two segments: (1) Reinsurance, which includes catastrophe reinsurance, specialty reinsurance and certain joint ventures and other investments managed by our subsidiary RenaissanceRe Ventures Ltd., and (2) Individual Risk business, which includes primary insurance and quota share reinsurance.

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RV Service Contracts and Mobile RV Service

 

 

RV Service Contracts and Mobile RV Service

 

Parts & Mobile Repairs

To help control claims costs, Burgess said, ACC recently launched its own parts and service facility as well as a fleet of mobile claims trucks. "So we're now able to solve claims for our insurers, to help mitigate their loss cost," he said. "We own the reinsurance on a couple of our programs, so anything we can do to mitigate losses really boosts our reinsurance profits."

The new ACC Mobile RV Service includes an RV parts management system for field technicians, as well as mobile RV repair trucks that are capable of driving right up to a covered unit and affecting repairs on the spot. Along with the parts and the trucks, ACC has also launched a new web interface, which allows customers to file claims, check on the status of their repair requests and order parts directly from their computer or web-enabled mobile phone, Blackberry or iPhone.

"Many of our customers live in their RV for an extended period of time and it is unreasonable to expect them to drop off their home at a dealership while waiting for common repairs to be completed," Burgess noted in a press release about the new service. "We want to ensure that this program encompasses all of the key functions that a mobile RV technician relies upon to complete a successful service call in one-visit. Our mobile repair trucks are being outfitted with all of the equipment that a fixed service operation would have on hand in order to accomplish this."

House Calls Away From Home

Burgess said the "we'll come to you" aspect of the new service fits in with the nature of the RVs and their owners. While most passenger car claims generally occur within a hundred miles of home (and therefore also close to the dealership that sold the vehicle and its service contract), RVs can break down thousands of miles from home, literally in the middle of nowhere.

"It's not just for the major failures: the transmissions, rear ends and engines," Burgess noted. "If you're at the Grand Canyon and your air conditioner quits working, or your toilet breaks, that's going to be a trip interruption trigger, because the coach isn't livable at that point."

So a lengthy wait for parts can involve multiple nights in a motel, plus meals and possibly a rental car -- most of which is covered by the trip interruption clause in the service contract. Just being able to find parts and get them out faster will reduce the cost of the claim. Being able to roll a truck to do the repair in a campsite at the side of a lake is going to boost customer satisfaction too.

"We got the parts and service center up at the end of February, and we just got the trucks launched the first of this month," Burgess said. "It's been a huge success so far, even though we're only two weeks into it. It's been very well-received, by both consumers and the dealers."

Still Slow at the High End

Burgess said the recovery in vehicle sales so far has been most pronounced at the low end of the market, with the towables and the pop-up units. Motor home sales are still at historically low levels, and the high end of the market is still suffering from the collapse of several major manufacturers, the credit crunch, job losses, etc.

"I just came from an RV show out west," Burgess noted. Three years ago, the exhibitors sold 40 units during the show. This year, they sold only four units, he said. And they were happy to have sold any.

But all that uncertainty may have actually increased the appeal of RV service contracts, Burgess suggested. "Our attachment rate is way up -- over 20% since the failures of Fleetwood, Monaco, Country Coach, Holiday Rambler, and so on. Our attachment and our price per contract are both up," he said.

Part of the reason may be the fears that the collapse of the manufacturers created, he said. "Consumers have always banked on the manufacturers being there," Burgess said. "That was never a question." And they were always skeptical about the longevity of their service contract provider. But they never thought their product warranty would become worthless.

Now that's changed, and a fully-insured RV service contract looks like a safer bet for the long term than a manufacturer's product warranty. In fact, in the June 11 newsletter last year, we wrote about how some RV dealers were selling service contracts for a dollar to help increase the appeal of otherwise as-is units made by bankrupt nameplates that were no longer paying claims.