Great American teams up with TRNSACT to support equipment sales
Great American's Specialty Equipment Division has partnered with TRNSACT, a sales finance platform, to integrate its physical damage insurance programme.
The programme, now available through TRNSACT, enables the provision of 'real-time' insurance quotes within the equipment sales process.
It aims to streamline the experience for dealers and their customers, allowing visibility for coverage options and costs.
The integration combines Great American's insurance expertise with TRNSACT's technology, offering a solution for dealers to assist customers in meeting insurance requirements.
The real-time insurance quoting feature is now embedded directly into the TRNSACT platform.
TRNSACT CEO and co-founder Beckham Thomas stated: 'Now, by embedding Great American's technology into our software, we can provide insurance quotes in real time, further delivering efficiency to the dealer experience. Our solution enhances the dealership experience by streamlining the sales process, enabling dealer management to implement best practices that could boost profitability and reduce workloads for dealership staff."
Great American Specialty Equipment senior business development specialist Bryan Inman said: 'Insurance plays a critical role in equipment transactions. Collaborating with TRNSACT ensures dealers can focus on closing deals while providing their customers with quick and easy access to coverage from an AM Best 'A+' (Superior) rated carrier.'
In January this year, Great American's property & inland marine division launched Equipment Pro, a contractor's equipment insurance product designed for industry professionals.
The coverage safeguards against perils such as fire, water damage, earth movement, wind and theft.
"Great American teams up with TRNSACT to support equipment sales " was originally created and published by Life Insurance International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24-03-2025
- Yahoo
Great American teams up with TRNSACT to support equipment sales
Great American's Specialty Equipment Division has partnered with TRNSACT, a sales finance platform, to integrate its physical damage insurance programme. The programme, now available through TRNSACT, enables the provision of 'real-time' insurance quotes within the equipment sales process. It aims to streamline the experience for dealers and their customers, allowing visibility for coverage options and costs. The integration combines Great American's insurance expertise with TRNSACT's technology, offering a solution for dealers to assist customers in meeting insurance requirements. The real-time insurance quoting feature is now embedded directly into the TRNSACT platform. TRNSACT CEO and co-founder Beckham Thomas stated: 'Now, by embedding Great American's technology into our software, we can provide insurance quotes in real time, further delivering efficiency to the dealer experience. Our solution enhances the dealership experience by streamlining the sales process, enabling dealer management to implement best practices that could boost profitability and reduce workloads for dealership staff." Great American Specialty Equipment senior business development specialist Bryan Inman said: 'Insurance plays a critical role in equipment transactions. Collaborating with TRNSACT ensures dealers can focus on closing deals while providing their customers with quick and easy access to coverage from an AM Best 'A+' (Superior) rated carrier.' In January this year, Great American's property & inland marine division launched Equipment Pro, a contractor's equipment insurance product designed for industry professionals. The coverage safeguards against perils such as fire, water damage, earth movement, wind and theft. "Great American teams up with TRNSACT to support equipment sales " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-02-2025
- Yahoo
Copper Jumps in New York as Trump Opens Door to Fresh Tariffs
(Bloomberg) -- Copper futures surged after President Donald Trump ordered the US Commerce Department to examine possible imports tariffs on all forms of the metal. NYC's Congestion Pricing Pulls In $48.6 Million in First Month NYC to Shut Migrant Center in Former Hotel as Crisis Eases The Trump Administration Takes Aim at Transportation Research DC Mayor Re-ups Call for Statehood as Trump Threatens Takeover Shelters Await Billions in Federal Money for Homelessness Providers The move was the latest in a string of steps aimed at imposing sector-specific levies to protect US producers and remake global supply chains. Copper markets have already seen major dislocations this year as traders bet on tariffs opening a gap between prices in America and the rest of the world. Copper futures traded on the Comex in New York rose as much as 4.9%. Shares of US-traded copper miners also climbed on the news, with Freeport-McMoRan Inc. jumping more than 6% in after-market trading, compared with Tuesday's settlement. The investigation will be carried out under Section 232 of the Trade Expansion Act, which gives the president broad authority to impose restrictions on national security grounds. In a social media post, Trump wrote that the 'Great American Copper Industry has been decimated by global actors attacking out domestic production'. The US president had already announced plans to impose 25% tariffs on all imports of steel and aluminum from March 12, widening Section 232 action he took in his first term. With copper, Commerce has up to 270 days to investigate imports and report back to Trump. Comex copper traded at $4.746 a pound, up 4.8%, as of 9:29 a.m. Shanghai time, while futures on the London Metal Exchange rose 1%. Separately, copper mines in Chile — the world's top producer — were hit by the country's biggest power blackout in 15 years. Mining giant Codelco said all of its operations had been affected. --With assistance from Andrew Janes. Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Meet Seven of America's Top Personal Finance Influencers Why Private Equity Is Eyeing Your Nest Egg China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction ©2025 Bloomberg L.P. Sign in to access your portfolio
Los Angeles Times
04-11-2024
- Los Angeles Times
B. Riley-backed Vitamin Shoppe owner files for bankruptcy
Franchise Group, the company at the heart of a troubled management buyout that has devastated the stock of B. Riley Financial, has filed for bankruptcy — but plans to keep open most of its retail brands, including Vitamin Shoppe. The retailer filed for Chapter 11 bankruptcy protection on Sunday, announcing it already had a deal with about 80% of its senior secured lenders that would allow them to convert their debt into ownership stakes and continue operating the businesses. The company's chains also include Pet Supplies Plus and Buddy's Home Furnishings. Its fourth retailer, discount furniture and appliance seller American Freight, will be closed. American Freight operates more than a dozen stores in California, including outlets in Torrance, West Covina and Palmdale. Westwood-based B. Riley took the Delaware, Ohio, company private last year in a $2.8-billion management-led buyout that turned disastrous amid slowing sales for Franchise Group and a scandal involving ties between its founder, Brian Kahn, and Prophecy Asset Management, a hedge fund that federal prosecutors allege defrauded investors of $294 million. Kahn has denied any wrongdoing. B. Riley took on $600 million in debt to underwrite the deal and lent Kahn $200 million over the years to establish Franchise Group and take it private — with most of the loan secured by shares of the retailer. B. Riley founder and co-CEO Bryant Riley, in a letter to employees, said he felt 'personally sick about this result,' which would likely result in a total loss of any equity stakes in Franchise Group for the company, 69 employees and others, including wealth clients and institutional investors. He added that the downturn in consumer spending and the scandal involving Prophecy could not have been foreseen, but that B. Riley is in 'far better shape than folks give us credit for.' B. Riley has already announced that it would mark down its investment in Franchise Group by up to $370 million and record a loss of up to $475 million when it files its second quarter earnings, which it has yet to do. Shares of B. Riley were down 13% to $4.95 Monday on the Nasdaq. The stock traded close to $90 three years ago. Riley told The Times in September that the firm had lowered its debt related to the deal to about $380 million and was carrying $1.9 billion in total debt. The financial services company has since been selling off assets to continue cutting its debt. Riley, in his letter, said that debt related to the Franchise deal would lower to $125 million by the end of the month. In September, B. Riley said it had sold a majority stake in its Great American appraisal and liquidation business for about $203 million to Oaktree Capital Management, while retaining a 47% stake valued at roughly $183 million in a new holding company it formed with the L.A. distressed asset manager. The company also sold off its its interests in a number of apparel brands and the former mall retailer Brookstone for about $236 million. A few days ago, it said it had sold off a small portion of its wealth management business to Stifel Financial Corp. for up to $35 million in cash. Some 40 to 50 advisors, along with the associated customer accounts, are expected to move to Stifel early next year.
