The insurance dangers and safeguards in a dealership deal with an NDA

The current market of dealership purchasers includes the normal mix of the mega-dealers and the smaller “hometown” dealers looking to expand their footprint. But, we also see an influx of well-financed newcomers looking to make their mark on the automotive industry. Some of these are international purchasers who have enlisted experienced General Managers to safeguard…

Why privately-held dealerships should have Directors and Officers coverage

Most Dealers believe Directors and Officers coverage is only necessary for publicly-traded entities. Because the predominance of Dealerships are privately owned, they feel there is little or no exposure to Management Liability claims. However, private companies risk suits from competitors, governmental bodies, creditors, and even shareholders. Owners, Board Members, and Senior Management may find themselves…

The size of your dealership’s insurance program should match the size of your business

Dealership acquisitions present numerous challenges. One issue often overlooked is the way growth affects the Dealership’s insurance program. Not adjusting your dealership policy as you grow exposes you to increased risk and potential lost income.   It is ironic how often we see Dealer Groups who are solidly in a growth mode maintain their “small…