SOURCE: The Warranty Group, Inc.

The Warranty Group, Inc.

February 09, 2010 12:39 ET

Virginia Surety Announces Administrative and Marketing Agreement With The Penn Warranty Corporation

CHICAGO, IL--(Marketwire - February 9, 2010) - Virginia Surety Company, Inc. (VSC), a subsidiary of The Warranty Group, Inc., today announced an agreement with The Penn Warranty Corporation to provide underwriting and actuarial support for its pre-owned vehicle service contract program.

"We are pleased to announce our partnership with The Penn Warranty Corporation," said Mike Frosch, senior vice president of VSC. "Its robust offerings combined with Virginia Surety's expertise in underwriting, customer acquisition and retention create a compelling alliance. Both The Penn Warranty Corporation and its customers will benefit from this industry-leading approach to value and brand loyalty."

"We are pleased to offer our customers underwriting solutions from an A-rated provider in VSC," said Jude Tuma, president and CEO of The Penn Warranty Corporation. "In addition, this agreement establishes a solid growth platform, from which we can extend our market presence, while maintaining our industry-leading service contract plans and high level of customer satisfaction."

Virginia Surety and The Penn Warranty Corporation share deep expertise in the retail automotive segment.

About The Warranty Group

The Warranty Group is the world's premier provider of service contracts and related benefits, with operations in 36 countries and more than 2000 employees. With underwriting, claims administration, compliance and marketing expertise, The Warranty Group is a single-source solution for manufacturers, distributors and retailers of consumer goods including autos, homes, consumer electronics, furniture and appliances as well as financial institutions and the travel and leisure industry. www.TheWG.com

About The Penn Warranty Corporation

For more than two decades, The Penn Warranty Corporation has been the trusted provider of vehicle service contracts to car buying customers of independent dealerships. As a leading innovator in the service contract industry, Penn Warranty has created several successful programs that address the unique needs of independent dealers and their customers. These programs enable independent dealers to maximize their profits without sacrificing value and coverage for their customers.

As one of the oldest auto service contract companies in the United States, Penn Warranty has served as the trusted and reliable partner to more than 20,000 independent dealers. For more information about Penn Warranty, or to become a Penn Warranty dealer, please visit www.PennWarrantyCorp.com, or call 800-356-9441.

Contact Information

  • For more information, contact:
    Rob Mancuso
    SVP Corporate Communications
    The Warranty Group
    312.356.2320
    Email Contact