CNA National Distributes Over $41 Million for Dealer Participation Programs for 2017
Consistent, significant returns demonstrate strength and stability of programs
SCOTTSDALE, March 1, 2018 — CNA National Warranty Corporation (CNAN) returned more than $41 million to automobile dealers across the U.S. through its various participation programs for 2017. This brings its inception-to-date total to over $452 million.
"This marks the third consecutive year that we have paid out more than $40 million to our dealers," says Joe Becker, CNAN president and chief executive officer. "This level of consistency demonstrates the dependability that our dealers expect and deserve from our retro and reinsurance options."
With CNA National, dealers can choose the participation program that best meets both their business and individual financial goals. The company offers a retro program, as well as reinsurance, including CFC (controlled foreign corporation) and NCFC (non-controlled foreign corporation) structures. CNA National's NCFC–Palo Verde Holdings–is managed by a board of directors made up of dealer shareholders. Since its inception in 1999, it has accrued over $273 million in assets.
CNAN reinsures warranties, GAP and tire-and-wheel protection in addition to vehicle service contracts. The company has earned multiple awards as "Best Reinsurance Provider" in the Dealers' Choice Awards, including first-place honors in 2011, 2012, 2013 and 2017.
About CNA National Warranty Corporation
Founded in 1982 and headquartered in Scottsdale, Arizona, CNA National is recognized as a leader in the vehicle service contract industry. The company offers a choice of reinsurance structures (both CFC and NCFC) as well as GAP coverage and tire-and-wheel protection. CNAN has been named "Best Provider" in Auto Dealer Today's Dealers' Choice Awards for 13 consecutive years (2005-2010, 2012-2017 for service contracts, and 2011-2013 and 2017 for reinsurance). In addition, CNAN was the first and one of only two service contract companies recognized for "Highest Overall Dealer Satisfaction" by J.D. Power and Associates.* CNAN's service contract program has had the exclusive endorsement of the American International Automobile Dealers Association (AIADA) since 1995. It is a wholly owned subsidiary of CNA, one of the nation's oldest and largest insurers with over $55 billion in assets. Learn more at CNANational.com.
*J.D. Power and Associates 2003 Dealer Service Contract Satisfaction StudySM based on 5,053 dealer evaluations, www.jdpower.com
Alan Miller, 800-345-0191x705