This is our $1 million guarantee that if the dealer complies with our Red Flag recommendations the dealership will not have issues with its Red Flag compliance.
Crystal Lake, IL (PRWEB) June 16, 2011
Automotive Compliance Consultants(http://www.compliantnow.com) said today that its $1 million Red Flags Errors and Omissions insurance guarantee is one of the most protective in the industry for auto retailers.
Automotive Compliance Consultant’s $1 million Red Flags Rule compliance protection is per occurrence and furthermore is retroactive three years for auto retailers who have retained Automotive Compliance Consultants during that time.
“This is one of the most protective and comprehensive Red Flags compliance coverage programs available to auto retailers today,” said Terry Dortch, President, Automotive Compliance Consultants, Inc.
“If we miss something in our Red Flags Rule compliance consultation or provide a client with incorrect information, this program covers any fines or civil suit costs the client may face as a result, up to $1million in damages,” Dortch added. “In other words, this is our guarantee that if the dealer complies with our Red Flag recommendations the dealership will not have issues with its Red Flag compliance.”
If a dealership extends auto credit to consumers or arranges auto credit for consumers, compliance with the rules probably applies. The Federal Trade Commission’s Theft Prevention Program enforces the Red Flags Rule. The Rule is designed to define a process for protecting consumers from identity theft.
As its name implies, red flags are patterns, practices or specific activities that indicate the possible existence of identity theft. Fines as much as $16,000 per incident can be levied for violators.
This $1 million protection also covers Automotive Compliance Consultants clients for fines or civil suit costs to this level arising from issues related to several other compliance matters, including Gramm-Leach-Bliley, OSHA, EEO and dealership F&I practices, for which the company provides consulting services.
Automotive Compliance Consultants specializes in dealership compliance, providing in-dealership consultations and analysis, compliance audits, and training, and offers solutions for all compliance needs. The Automotive Compliance Consultants staff has extensive experience in the retail automotive industry and focuses exclusively on dealership compliance issues.
To learn more, contact terry_dortch(at)compliantnow(dot)com or http://www.compliantnow.com.