GPW Auto Reinsurance
The GPW Auto Reinsurance program can be set up as a Producer Affiliated Reinsurance Company (PARC), which is a corporation formed either in the United States or offshore to reinsure F&I products sold through an affiliated automobile dealership(s) or banks/financing entities. These F&I products typically include one or more of the following: Vehicle Service Contracts (VSC), limited warranty, Guaranteed Asset Protection (GAP), etch/theft products, credit insurance, etc.
Our other Auto Reinsurance program is a Dealer Owned Warranty Company (DOWC), which is an administrative corporation (C Corp) designed to be the obligor for non-insurance F&I products such as VSCs. The company is not regulated as an insurance company, but typically qualifies as one for federal income tax purposes. The DOWC is generally owned by a dealer or a dealer group and is administered by a third-party provider. The DOWC often purchases an excess of loss insurance provided by a third-party insurer.
