Under a new agreement, a Bank America subsidiary will now provide insurance backing for Interstate National Dealer Services Inc., a vehicle service contracts and extended warranties administrator.
The subsidiary, General Fidelity Insurance Company, will provide the backing for many of INDS’ product offerings.
“We see a great opportunity for growth, and the need for professionally structured and insured service contracts,” said Shaun Fetherston, INDS’ CEO said in a press release.
INDS is a full-service provider of service contracts and extended warranties for new and used motorcycles, watercraft and other recreational vehicles. The company was founded in 1980. Golden Gate Capital, a $3 billion provide equity investor, purchased INDS in 2006.