SOURCE: The Warranty Group, Inc.

The Warranty Group, Inc.

January 08, 2010 19:09 ET

Virginia Surety Announces Warranty, ID Theft and Travel Benefit Agreement With Individual Assurance Company

CHICAGO, IL--(Marketwire - January 8, 2010) - Virginia Surety Company, Inc. (VSC), a subsidiary of The Warranty Group, Inc., today announced an agreement to provide home and appliance warranties, identity theft protection and travel benefits to Individual Assurance Company (IAC) as an expansion of VSC's financial institution offerings.

Mike Frosch, senior vice president of VSC, said, "IAC is recognized as an industry leader in delivering fee-income insurance and debt-protection products to financial institutions through its unique FourPoint technology solution. VSC's extensive product offerings and collaborative program-development approach assists clients in driving acquisition, retention and revenue-generation efforts. Our combined partnership provides a turnkey solution to meet the needs of clients in the financial services industry during these challenging times."

According to Mike Strickland, president of IAC, "The collaboration between our two companies will offer our partners new and exciting solutions. Our financial institutions are seeking innovative ways to help their customers when the unexpected financial crisis occurs. VSC and IAC are pleased to be able to offer these valuable solutions."

Both VSC and IAC have deep expertise in assisting financial institutions with customer-loyalty and brand-building programs.

About The Warranty Group

The Warranty Group is the world's premier provider of extended service plans and related benefits, with operations in 33 countries and more than 2000 employees. By providing 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/leisure industry. www.TheWG.com

About IAC

IAC has over 50 years of experience working with financial institutions to provide insurance solutions to their customers. Today we have over $6 billion of insurance inforce. IAC offers a full range of insurance products, debt protection and reinsurance programs to more than 600 financial institutions from Alaska to Maine. www.iac-group.com

Contact Information

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