Scottsdale, Az—CNA National has passed the $100-million mark in payments to dealers through its various profit participation plans, according to Alan Miller, senior vice president of sales.
“We are proud to have reached this significant milestone in our company’s history,” says Miller. As of the period ending June 30, inception-to-date payments total more than $110 million paid to dealers nationwide.
“Our Dealer EquitySM (DE) program, first available in 1992, has long set the standard for service contract participation programs,” Miller continues. “It is straightforward, clearly explained and consistently pays both underwriting profit and investment income to participating dealers.”
In 1999 CNA National began offering reinsurance through Dealer Equity ReSM. Today it is one of the few companies in the industry to give dealers a choice of structures including a single-owner CFC (controlled foreign corporation) or a very successful multi-dealer NCFC (non-controlled foreign corporation).
“The strength of our programs lies in the fact that dealers can select the program that will best serve their particular needs and accomplish their individual goals for the development of additional income,” explains Miller.
Founded in 1982 and headquartered in Scottsdale, Arizona, CNA National is recognized as a leader in the vehicle service contract industry. In addition to service contracts, it offers GAP and tire-and-wheel protection. The company is a wholly owned subsidiary of CNA, one of the nation’s oldest and largest insurers with more than $60 billion in assets.
CNAN was the first to be recognized by J.D. Power and Associates for “Overall Dealer Satisfaction with Service Contract Provider”* and has been named “Best VSC Provider” in the Dealers’ Choice Awards** for all three years the survey has been conducted. CNAN has been endorsed exclusively by the American International Automobile Dealers Association (AIADA) since 1995.
*J.D. Power and Associates 2003 Dealer Service Contract Satisfaction StudySM, based on 5,053 dealer evaluations.
**As awarded by Auto Dealer Monthly, 2005-2006-2007.