JACKSONVILLE, Fla., Jan. 17,
2023 /PRNewswire/ -- The Fortegra Group, Inc
("Fortegra"), a global specialty insurer and subsidiary of Tiptree
Inc. (NASDAQ: TIPT) today announced the launch of a Catalytic
Converter Theft Deterrent Product under the company's Smart
AutoCare brand. This limited warranty, which is designed to protect
U.S. car owners against the rising threat of catalytic converter
thefts, is already available at dozens of auto dealers across the
country, with new dealers joining daily.
"When a thief sees your vehicle, they see an opportunity to
wrongfully acquire valuable parts and pieces. It's a reality far
too many people experience every day," said Peter Masi, Smart AutoCare Founder and CEO.
"This new limited warranty gives vehicle owners a valuable tool to
level the playing field and protect their investment."
Catalytic converter thefts have skyrocketed across the nation.
According to the National Insurance Crime Bureau, there were more
than 52,000 converter thefts with a claim in 2021 compared to
roughly 1,300 in 2018. New converters range from around
$1,000 to $4,000 and are not often covered by traditional
insurance policies.
Along with the heightened protection and economic peace of mind,
purchasers of this limited warranty will benefit from a theft
deterrent system. This unique, tamperproof, and permanent seal
makes the converter identifiable to law enforcement and reputable
scrap dealers via a registration number.
About Smart AutoCare
Smart AutoCare is the brand name
for the vehicle service contract operations and the warranty,
F&I and reinsurance solutions of the subsidiaries of Fortegra
Warranty Holdings, LLC, a Fortegra company. Smart AutoCare's
best-in-class customer service, professional adjudication,
comprehensive product offering, and proprietary technology solution
make it one of the most respected F&I brands. Learn more here:
https://www.smartautocare.com/
About Fortegra
For more than 40 years, Fortegra and
its subsidiaries have underwritten risk management solutions that
help people and businesses succeed in the face of uncertainty. As a
global specialty insurer, we offer a diverse set of admitted and
surplus insurance products and warranty solutions. Fortegra's A.M.
Best Financial Strength Rating of A- (Excellent) is a result of our
strict underwriting standards, consistent profitability, and high
cash flows. For more information, please visit:
https://www.fortegra.com.
Contact:
Holly Bohn
Pittman
hbohn@fortegra.com
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SOURCE Fortegra