"GAP" Nc E* a * Ctual C Contact Us Ash V Alue This Program Is Eligible for Dealer Participation Programs

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Guaranteed Asset Protection (GAP) covers customers when their insurance leaves them stranded GAP Insurance Highlights • Available for new and pre-owned private • Total coverage up to $100,000 passenger financed vehicles • Maximum loan term of 7 years • Covers customer’s automobile insurance • Maximum loan to value is 150% deductible up to $1,000* • Dealer profit participation reinsurance and retro programs available GAP Coverage Details How GAP Coverage Works Protective’s Guaranteed Asset Protection (GAP) is what your Scheduled Loan Balance* $20,000 customers need when total-loss insurance payouts leave them Actual Cash Value - $16,000 stranded with an additional loan balance. GAP closes that The Gap $4,000 financial gap, enhances customer satisfaction and maximizes Insurance Deductible + $500 your F&I profit potential. Possible Out-Of-Pocket Expense $4,500 GAP Benefit Covers - $4,500 They Pay $0 S cheduled Loa n B ala "GAP" nc e* A * ctual C Contact Us ash V alue This program is eligible for dealer participation programs. $ Value Don’t miss out on this exclusive profit-growing opportunity! For more information about this program call 866.384.6320 or send us a message. Years www.protectiveassetprotection.com 2345 Waukegan Road, Ste. 210 Bannockburn, IL 60015 800.323.5771 *Payment of deductible not available in all states, in some states deductible coverage is provided as a standard benefit with GAP coverage. **After taking into account the refunds, if any, used to reduce the outstanding balance. This sheet highlights key protection provisions and terms. Protection is subject to terms, conditions and exclusions. See addendum /policy for complete details. This program is administered by a Protective company and is backed by Lyndon Property Insurance Company, also a Protective company. Available in all states except New York..

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Interview With
entrevista a Nikos Antimissaris Consejero – Director General MAPFRE ASISTENCIA Madrid – España Contact center de MAPFRE ASISTENCIA en China Nikos Antimissaris, griego de nacimiento, cursó la Licenciatura en Administración de Empresas en la Universidad de Lieja (Bél- gica), vinculándose a España el último año de universidad, al es- tudiar entre 1992 y 1993 en la Universidad de Valladolid (España) dentro del programa europeo ERASMUS. Completó su formación académica con el MBA del Instituto de Empresa Business School, de Madrid (España). Además del griego, domina el inglés, el fran- cés y el español. Su carrera profesional se inició en 1994 en su país natal con MAPFRE ASISTENCIA, como Director General de la Unidad de Negocio de Grecia. En 2001 fue trasladado a los Servicios Cen- trales en Madrid para dirigir el negocio del área geográfica de Europa y Oriente Medio. En 2004 fue promocionado a Subdirec- tor General de la entidad y desde 2006 ostenta el cargo de Con- sejero Director General de MAPFRE ASISTENCIA. 40 / 67 / 2013 667_trebol_esp.indd7_trebol_esp.indd 4040 007/11/137/11/13 001:581:58 “MAPFRE ASISTENCIA aporta una solución integral a sus socios aseguradores que incluye, no sólo la suscripción del riesgo (por la vía del reaseguro), sino también toda la infraestructura operativa para la tramitación de los siniestros y la prestación de los servicios.” Nikos Antimissaris habla siempre en primera persona del plural porque siente que alcanzar en 2013 un volumen de ingresos de mil cien millones de euros es una labor de los seis mil empleados de MAPFRE ASISTENCIA desde los cuarenta y cinco países en que está presente.
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International Credit Union Day Celebrates “The Authentic Difference”!
THE CAROLINECAROLINECAROLINE FALL 2016 1200 East Church Street • Cherryville, NC 28021 • (800) 378-1955 • (704) 435-0186 • www.carolinafcu.org • [email protected] Holiday Closings: Columbus Day Veterans Day Thanksgiving Holiday Christmas Day Monday, October 10 Friday, November 11 Thurs., Nov. 24 & Fri., Nov. 25 Monday, December 26 INTERNATIONAL CREDIT UNION DAY CELEBRATES “THE AUTHENTIC DIFFERENCE”! On Thursday, October 20, 2016, credit unions around the world will be celebrating International Credit Union Day...please come to Carolina Federal Credit Union and join in on the celebration! Credit unions are not-for-profit financial cooperatives, offering the same services as other financial institutions, but with a people-first philosophy. Since 1948, on the third Thursday of every October, credit unions have celebrated the principles that make credit unions the best financial partners of people all over the world. “The authentic difference,” this year’s ICU Day theme, zeroes in on what makes credit unions different from banks, and other financial institutions—our principles. Credit unions all over the world have operated according to the same core principles since the 1850s, when a group of weary German workers, tired of being exploited by loan sharks, formed the world’s first credit union by banding together to provide affordable credit to each other. These principles are derived from the 7 Cooperative Principles, shared by all cooperatives. They are: 1. Democratic Control - One member = One vote. Whether you have $5 or $5 million, your voice is equal. 2. Open and Voluntary Membership - Members are connected by a bond of association, fostering a sense of community.
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Let's CHATT About Banking!
Important Numbers for after hours: Check account balance 24/7 (334)756‐7027Report Lost/Stolen Debit Card (800)991‐4965 Your Deposits are federally insured up to $250,000 by Let’s CHATT about banking! NCUA VISION: TO BUILD LIFELONG RELATIONSHIPS ONE MEMBER AT A TIME! WWW.CHATT.COOP SPRING NEWSLETTER 2018 Keep Track Of Your Credit It's always been important to keep up with what's in your credit report and make sure it's accurate. But the Got New Auto Fever? Check Out Our disastrous data breach that lasted from Low Rates! May to July 2017 at Equifax, one of the With sunnier skies, warmer days, and three major credit reporting agencies, makes it imperative. If your vital greener pastures on the horizon, many Congratulations to personal information was hacked, you of us have caught that proverbial spring Keiron Carter could be a victim of identity theft fever. Perhaps you're smitten by for receiving the resulting in someone fraudulently springtime but have four wheels, shiny 2018 People Helping People opening accounts, filing taxes or making paint, and the rev of an engine on your purchases in your name. You would mind? You may have a case of new auto Scholarship in memory of have to spend many hours setting the fever! If you want to ring in spring with a Dr. Oscar L. Crawley, Sr. record straight. new ride, look no further than Your first line of defense is to request Chattahoochee Federal Credit Union. Keiron Carter, has been selected to your free annual credit report from each of the three agencies, Equifax, Experian Our low rates and unmatched service are receive the third annual People Helping and Transunion.
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Internal Revenue Service Te/Ge Technical
INTERNAL REVENUE SERVICE TE/GE TECHNICAL ADVICE MEMORANDUM Release Number: 200709073 September 21, 2005 Release Date: 3/2/07 UIL: 501.00-00 511.00-00 Area Manager – Taxpayer’s Name: Taxpayer’s Address Taxpayer’s Identification Number: Years Involved: Conference Held: Legend T = U = V = W = X = Issues Whether funds derived by T, a state-chartered credit union described in section 501(c)(14) of the Internal Revenue Code, from the following activities should be treated as unrelated business taxable income under section 511 of the Internal Revenue Code: A. Sale of accidental death and dismemberment (AD&D) insurance B. Sale of MEMBERS financial management services (formerly “Plan America”) C. Sale of car warranties D. Sale of guaranteed auto protection (GAP) insurance E. Sale of credit life and credit disability insurance 2 F. Sale of group life, health and cancer insurance and stand alone cancer insurance G. Sale of checks Facts Originally chartered in 1952, T is a state-chartered credit union, which is recognized as exempt from federal income tax under section 501(a) of the Internal Revenue Code (“Code”) as an organization described in section 501(c)(14)(A). T's board of directors, supervisory committee and loan committee are comprised entirely of elected members of the credit union who serve on a voluntary basis without compensation. Membership in T is limited to employees and family members of U. T’s purposes as stated in its articles of incorporation are to promote thrift and provide low cost credit for its members. T’s activities include accepting deposits from and maintaining the accounts and savings of its members.
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Tacoma Public Utilities
CITY OF TACOMA FIRE DEPARTMENT REQUEST FOR BIDS TECHNICAL RESCUE VEHICLE SPECIFICATION NO. FD17-0255F 1 City of Tacoma FIRE DEPARTMENT REQUEST FOR BIDS FD17-0255F TECHNICAL RESCUE VEHICLE Submittal Deadline: 11:00 a.m., Pacific Time, August 1, 2017 Submittal Delivery: Sealed submittals will be received and time stamped at this location only: By Carrier: In Person: City of Tacoma Procurement & Payables City of Tacoma Procurement & Payables Division Division Tacoma Public Utilities Tacoma Public Utilities Lobby Security Desk 3628 S 35th Street Administration Building North – Main Floor Tacoma, WA 98409 3628 S 35th Street Tacoma, WA 98409 By Mail: City of Tacoma Procurement & Payables Note: This is a change in location for in- Division person deliveries. Tacoma Public Utilities PO Box 11007 Tacoma, WA 98411-0007 Submittal Opening: Sealed submittals in response to a RFB will be opened by a Purchasing representative and read aloud during a public bid opening held in Conference Room M-1, located on the main floor in the same building. Submittals in response to an RFB are recorded as received but are not typically opened and read aloud. After 1:00 p.m. the day of bid opening, the names of vendors submitting bids are posted to the website for public viewing. Solicitation Documents: An electronic copy of the complete solicitation documents may be viewed and obtained by accessing the City of Tacoma Purchasing website at www.TacomaPurchasing.org. Register for the Bid Holders List to receive notices of addenda, questions and answers and related updates. Click here to see a list of vendors registered for this solicitation.
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Chapter 1 Introduction of Insurance
CHAPTER 1 INTRODUCTION OF INSURANCE Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. According to study texts of The Chartered Insurance Institute, there are the following categories of risk: Financial risks which means that the risk must have financial measurement. 1. Pure risks which means that the risk must be real and not related to gambling 2. Particular risks which means that these risks are not widespread in their effect, for example such as earthquake risk for the region prone to it. It is commonly accepted that only financial, pure and particular risks are insurable. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. Defination Of Insurance: 1. A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
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2005 Fact Book of Credit-Related Insurance
, -- '...... The 2005 Fact Book of ".-" Credit-Related Insurance 1951 CCIA 2005 Published by the Consumer Credit Insurance Association April 2005 Summary of Recent Industry Trends Overview of the Industry Except for credit property and casualty insurance, the countrywide premiums for most credit-related insurance have declined in the last two years, as demonstrated below. • Credit life insurance ne.t written premium decreased by 27% in 2003. • Credit disability insurance net written premium decreased by 21% in 2003. • Involuntary unemployment insurance net written premium grew strongly during the 19905, but it leveled off and is now starting to decrease, showing the effect of the movement by the credit card issuers from credit insurance to debt protection products. • Other credit property and casualty insurance net written premium has shown a steady increase during the last five years, primarily growth in creditor-placed collateral protection insurance. • Total premiums in 2003 decreased by 14%, continuing to drop from the higher levels reached in 1999 and 2000. Credit-Related Insurance 1998-2003 Net Written Premium in Billions 8.00 7.00 1!i11998 Net Written Premium 01999 Net Written Premium ~ - 6.00 t/) .2000 Net Written Premium -c .2 1!3 2001 Net Written Premium 5.00 iii .2002 Net Written Premium c t/) 4.00 02003 Net Written Premium E ::s E ....Q) 3.00 n. c Q) 2.00 .=.:;: 3: ....Q) 1.00 Z 0.00 Life Insurance Disability Involuntary Other Credit Total Insurance Unemployment Property and Insurance Casualty Page 5 Credit-Related Insurance Premiums Are at 30-Year Lows Net written premiums for credit life and credit disability insurance have dropped from recent highs, and they do not come close to the levels attained in 1979, when measured in constant dollars.
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GAP Insurance? How GAP Insurance Works GAP Stands for Guaranteed Asset Protection
Car, Truck, RV, Boat, Motorcycle, Scooter - if it has a $25k $20k Vehicle Loan motor, we've got it covered! Balance $15k A vehicle's value often declines much faster than a loan or lease balance. GAP Coverage New cars lose 30% of their value during their first year and 50% in the $10k Value of Vehicle first 3 years. Even if you total your car, you're still responsible for the full $5k Loan Term (Months) amount ofthe loan. 12 24 36 48 60 72 What exactly is GAP Insurance? How GAP Insurance Works GAP stands for Guaranteed Asset Protection. It covers the difference between the value of your vehicle and the amount owed on your loan if it were involved in an accident. GAP insurance will pay that difference in Loan Amount: Loss Date: $25,000 36 Months the event you total your vehicle. GAP Benefits Loan Payoff $14,000 Actual Cash Value of vehicle $10,000 • Gives you peace of mind by avoiding financial uncertainty after a traumatic loss Primary Insurance Deductible $500 • Allows for a "clean slate" when financing your next purchase Primary Settlement $9,500 • Protects your investment Potential Out-of-Pocket Expense is $4,500 • The cost can be added to any new or existing vehicle, motorcycle, GAP Insurance Payment to Lender $4,500 or powersport loan Out-of-Pocket Expense with • Provides $1,000 toward your replacement vehicle financed with Horizon GAP Protection $0 Horizon offers GAP Insurance for a one-time cost of $310, which includes GAP, GAP PLUS, and ADP. Horizon has partnered with Ohio Indemnity GAP PLUS Company for GAP insurance and with AmTrust for ADP coverage.
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Understanding the Insurance Business
INSURANCE CONTINUING EDUCATION Understanding the Insurance Business STATE-APPROVED CONTINUING EDUCATION for CALIFORNIA INSURANCE LICENSEES BookmarkEducation.com (800) 716-4113 UNDERSTANDING THE INSURANCE BUSINESS Continuing Education for California Insurance Professionals www.BookmarkEducation.com UNDERSTANDING THE INSURANCE BUSINESS California Approved Course License Number 349113 COPYRIGHT © 2017 BY BOOKMARK EDUCATION All rights reserved. No part of this book may be reproduced, stored in any retrieval system or transcribed in any form or by any means (electronic, mechanical, photocopy, recording or otherwise) without the prior written permission of Bookmark Education A considerable amount of care has been taken to provide accurate and timely information. However, any ideas, suggestions, opinions, or general knowledge presented in this text are those of the authors and other contributors, and are subject to local, state and federal laws and regulations, court cases, and any revisions of the same. The reader is encouraged to consult legal counsel concerning any points of law. This book should not be used as an alternative to competent legal counsel. Printed in the United States of America. .P1. All inquiries should be addressed to: Bookmark Education 6203 W. Howard Street Niles, IL 60714 (800) 716-4113 www.BookmarkEducation.com TABLE OF CONTENTS CHAPTER 1: INSURANCE FUNDAMENTALS .............................................................. 1 Introduction .................................................................................................................
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“GAP” Insurance
Understanding GAP Coverage When buying a new (or newly used) vehicle, one thing consumers often overlook is “GAP” Insurance. GAP is guaranteed auto protection, sometimes incorrectly referred to as “totaled insurance”, and it provides coverage in the event of total loss on a new or nearly new vehicle. If your car is a total loss after an insurance claim, you may not be fully covered without a GAP policy. This inexpensive coverage may save you thousands of dollars for a small initial investment when you purchase a new vehicle. GAP insurance covers the difference (or gap) between what the vehicle is actually worth (or what the insurance company values your totaled vehicle) and what is owed to the lender. Many consumers don’t carry this important insurance on their vehicles. In addition, GAP coverage must be purchased when you buy the vehicle-it cannot be added later. Why is GAP coverage so important? Your vehicle depreciates about 7-20% percent1 as soon as you drive it off the lot, and it continues to depreciate significantly for the first two or three years. If your car were to be totaled or stolen during this time, insurance would only pay you the actual cash value (ACV) of your car. Your loan amount could be significantly more, however, and the consumer is responsible for the difference. For example, assume you pay $25,000 for a new car and one year later it is a total loss while you still owe the lender $20,000. Assume your insurance company tells you that the car's ACV is only $17,00.
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5 SMARTER Website to Compare Vehicles to Make Shopping for Your Next Vehicle Easier
SMARTER SUMMER SAVINGS INTERESTNotes of SUMMER JULY 2016 SHOP SMART Start with AutoSMART, an online tool on our 5 SMARTER website to compare vehicles to make shopping for your next vehicle easier. Visit our auto loans page at HenricoFCU.org to get started! AUTO SAVINGS TIPS 1 KNOW ALL THE COSTS PROTECT YOURSELF Keep in mind the total cost of a car Extended warranties, GAP insurance, life and disability insurance including routine maintenance, gas, and any may be great options for you to consider, especially if you are unforeseen costs. Get the big picture beyond financing more than 80% of the vehicle. While these options are just your monthly payment. not right for everyone, they are worth considering. Talk to your Henrico FCU Financial Service Representative to determine which of these products are smart choices for you. 2 3 HAVE OTHER LOANS? If you have auto loans at other financial institutions, consider refinancing them with GET PRE-APPROVED us. The savings could help lower your If you are considering a new car or looking for more monthly payments. ways to save on your existing auto, contact us today. as low as We can help with your pre-approval request, and give 4 you the resources you need to be on your way to % enjoying your summer ride. 1.99APR* 5 4 Easy ways to apply for your next auto. Apply online Ask for Henrico FCU Give us a call at Visit any of our branches through HenricoFCU.org financing at the dealership 804.266.0290 to get pre-approved *APR = Annual Percentage Rate.
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20 January 2017 Mr Christian Mikula Senior Specialist Deposit Takers
IAG.502.018.4705 •1a 20 January 2017 Mr Christian Mikula Senior Specialist Deposit Takers, Credit & Insurers Australian Securities and Investments Commission Level 5, 100 Market Street Sydney NSW 2000 Dear Mr Mikula, ASIC REVIEW OF ADD-ON INSURANCE PRODUCTS We refer to your letter of 21 November 2016 (ASIC's November letter). We note that the purpose of ASIC's November letter is to set out ASIC's views on what it considers should be the appropriate nature and scope of remediation by Swann. Our responses to the issues raised in ASIC's November letter are set out below. The additional information requested is attached as Annexure A. 1. Authorised Representatives (AR) Swann and IAG regard any circumstance where an AR has engaged in unfair sales conduct, including in relation to its add-on insurance products, as totally unacceptable and will continue to fully investigate and address any such cases in terms of both consumer remediation and consequences for ARs involved. Swann acknowledges and accepts the need for an appropriate remediation program where mis-selling has been shown to have occurred, however it remains unclear to Swann what remediation ASIC would consider appropriate, and Swann welcomes the opportunity to discuss this further with ASIC. Below are our responses in relation to each of the ARs identified by ASIC. a) was a finance broker that was a Corporate Authorised Representative (CAR) of Swann. The effective date of the authorisation with Swann was 4 November 2009 and the authorisation was terminated on 11 July 2013. The following Swann products were sold b • Gap; • Loan Protection Insurance; • Business Use Loan Protection Insurance; • Tyre & Rim ; • Motor Cycle Comprehensive; and • Motor Vehicle Comprehensive.
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