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The downtown-based company’s unit said it will exit the guaranteed auto protection and excess wear and tear auto insurancer lines of its Premier Lease and LoanServiceas unit. Both insurance lines provide protectiomn for losses involving leased Great American will continue to offerr otherauto products, such as collateral protection insurance, and contingenrt and excess liability. The company decided that its capital and othetr resources could be used more profitablg in other parts ofthe business. It also evaluated the busineszs climate and the risks and opportunities tied to stayingh in thosebusiness lines, said Diane Weidner, a companyh spokeswoman.
Steve Tosh resigned as president of Premiefr Lease and Loan alonf with the decision to drop those two Weidner said. He resigned as of May 20, but he still stay on as a consultanty until the transactions regarding renewal rightsare completed. Great Americajn reached a deal with to sell renewal rightxs for the two discontinuefdinsurance lines. The way those renewal rightxs are finalized will determine the impact onlocal jobs, Weidner said. “We’red working through a lot of details,” she said. “There will be no immediatd impact to the work And the impact will be small relativre to theentire company.
” The company employs including about 2,600
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