SCOTTSDALE – CNA National Warranty Corporation announced that $27 million was returned to automobile dealers across the U.S. in 2011 through its various participation plans.
“We are proud to be an industry leader in working with dealers for their long-term success,” says Alan Miller, senior vice president of sales. “The front-end sale receives most of the attention in our industry, but it is the back-end programs that allow us to build a true partnership with our dealers.”
This partnership with dealers has been the foundation for CNA National establishing itself as an industry leader since being its beginning 30 years ago. In that time, CNA National has returned more than $230 million to dealers through participation plans.
“The money paid to our dealers not only benefits their business, it can ultimately benefit their community, metropolitan and state economies. Some dealers have used these funds to expand their operation or to purchase additional points,” says Joe Becker, president and chief executive officer. “Our goal is to continue having a positive role with our dealers across the country.”
What is certain is many dealers prefer CNA National’s participation plans because they can select the program that best serves both their business and individual income development goals.
By offering controlled foreign corporations (CFC) and non-controlled foreign corporation (NCFC) structures, CNA National has distanced itself from industry competitors in the reinsurance market, and in 2011 was recognized as “Best Provider” for reinsurance with the Auto Dealer Monthly’s Dealer Choice Award.
“We have a proven business model for our dealers that helped them weather the recent challenges in the automobile industry and the economy,” says Miller. “We will continue to work with dealers to prove our value to their long-term success.”