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Sterling to handle Fiat’s GAP

Sterling Insurance Group has been selected by Fiat Auto Financial Services as the sole provider of their payment protection and Guaranteed Asset Protection (GAP) products across the Fiat and Alfa Romeo dealer network.

Fiat and Alfa Romeo dealers will be able to provide these policies to customers via a new web-based sales system accessible in the showroom.

This will allow individual sales executives to log on and complete the sale with the customer and send it immediately to Sterling to process and issue policy documents.

Sterling will provide Fiat and Alfa Romeo customers with Payment Protection Insurance (PPI), which is designed to clear their outstanding balance in the event of death or critical illness. It can also ensure that the customer’s loan repayments are met should they become unemployed or fall ill and be unable to work.

Fiat and Alfa Romeo customers will also be offered GAP and GAP Plus (RTI) products. GAP will ensure that should an accident occur and a vehicle is written-off, the insurer makes up the shortfall between the motor insurer’s settlement figure and the outstanding balance on the finance.

GAP Plus will cover the difference between the motor insurer’s settlement and the original invoice price of the vehicle.

Rob Almond, managing director of Fiat Auto Financial Services, said: “Fiat is committed to providing our customers with the very best products, service, and support, and this approach is carried through to all complementary products. We are confident that by selecting Sterling Insurance to provide PPI and Gap to our dealer networks will be able to offer their clients a range of excellent products backed up with the highest standards of service.”

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