With the costs of today’s vehicles, car dealers need to protect their valuable investments.
Forced-placed insurance is a way to guarantee the vehicles are protected once they leave the lot, as consumers make payments.
Eric S. Hurst, Chief Operating Officer of Empire Indemnity Insurance Company Risk Retention Group, Inc., will moderate a five-person panel of industry experts at 11:15 a.m. Tuesday, June 20 at the NIADA Accelerate 2023 Convention and Expo, getting their unique perspective on force-placed insurance. Hurst has more than three decades of experience in the industry.
The panel will include Eric Johnson, Nehad Dwikat, Mark Baran, Richard Tucker and Bret Pangborn, answering questions, sharing specific examples from their experience and shedding light on the benefits and pitfalls in implementing forced-placed insurance.
Johnson is an accomplished financial services attorney and partner at Hudson Cook’s Oklahoma City branch. Johnson has helped automobile finance firms in development of auto finance initiatives. He also provided DMS providers guidance on federal and state regulations.
Dwikat is the president of the MEI Group in Arlington, Texas. He plays a pivotal role in driving the company’s growth and success, elevating it to one of North Texas’ most prominent enterprises. Dwikat represents the MEI Group dealerships at NIADA 20 Group dealership roundtables. In April, he led dealers in a tour of several of the companies dealerships.
Baran is an actively licensed Ohio attorney and Arizona Certified Public Accountant with GPW and Associates, Inc. He is a renowned expert on taxation, law and accounting.
Tucker is the founder and chairman of Customized Dealership Financial Solutions and has provided BHPH dealerships for 20 years with reliable underwriting predictive modeling; strategic advice to increase profitability; and sourcing acquirers that follow the CDFS structure of optimizing the proceeds for dealers that wish to sell their dealership.
Pangborn is the Chief Operating Officer at Nevada West Financial/Right Size Funding, where he has a long and illustrious track record of developing and implementing innovative credit and risk management strategies.
With their experience and knowledge, the panel hopes to leave the audience with a better understanding of force placed insurance, what it is, the problems it solves, and why lenders providing lines of credit, and bulk purchase finance companies like to see it in a dealers BHPH portfolio. Dealers can find provide clarity on a critical insurance product for BHPH dealers at a critical time in our economy.
It will be one of 77 breakout sessions during the NIADA Accelerate 2023 Convention and Expo, the largest convention for the independent dealer, June 19-22 at the Wynn in Las Vegas.
Register at niada.com/convention.