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GMAC up to speed with FSA finance rules

Employees at GMAC UK, the finance provider, will automatically achieve Institute of the Motor Industry (IMI) membership after passing an FSA insurance regulations exam.

GMAC’s entire account management team ‘embraced’ the new FSA standards which came into force on General Insurance (GI) Day (January 14, 2005), to the extent that the 25-strong team has now been granted membership of the Institute of the Motor Industry (IMI).

GMAC worked closely with the FSA to develop written training materials and went on to create its own annual examination and accreditation, to ensure ongoing compliance and the maintenance of standards across its entire account management team.

The IMI was invited to evaluate both the overall approach, as well as the specific requirements of the examination. Tthe IMI has endorsed the standards being set by GMAC, granting automatic membership to the Institute to all account team members passing the exam.

GMAC provides finance and insurance products to retailers across all three GM marques in the UK, Vauxhall, Saab and Chevrolet.

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