PIA Says BMW Owners Deserve the Best: Advice From a Professional Insurance Agent

14 October 1999

    Auto Insurance Not the Same as Dealer-Installed Options, Says Eberhart

    WASHINGTON, Oct. 13 -- Gary W. Eberhart, CAE, Executive Vice
President of the National Association of Professional Insurance Agents, issued
the following statement regarding the announcement by BMW Financial Services
of a personal insurance program being offered to BMW customers through an
affiliate of the Chubb Group of Insurance Companies:

    Auto insurance is not the same as a dealer-installed option.
    Consumers who seek advice about insurance coverages deserve the best.
Consumers who consult professional insurance agents are assured that their
range of choices among carriers and coverages is broad and suited to their
needs.
    Relying on an insurance service center that is affiliated with a major
insurance company, which is in turn affiliated with an automobile
manufacturer, is not the best way to get quality advice and service. The best
way is by consulting a professional insurance agent who works for you.
    Luxury cars are usually acquired by drivers with greater assets and the
need for sophisticated insurance coverages. The idea that these consumers
would turn to a car dealer to protect their autos, homes, antiques,
collectibles and watercraft, as outlined in the announcement from BMW, is
ludicrous. Sophisticated consumers rely on professionals for the specialized
products and services they need. They don't go to a bank to order a pizza and
they don't maintain their 401K account at the local video rental store.
    Chubb is represented by one of the most elite and sophisticated sectors of
the independent agency community. These agencies know the marketplace, their
clients and their needs. Consumers and Chubb benefit from that partnership.
    In the company press release announcing this program, Stefan Krause,
President of BMW Financial Services' Americas Region observes, "while many
customers may think that all insurance is the same, BMW Financial Services
believes that there are significant differences that would appeal to BMW
drivers."
    Professional insurance agents could not agree more. BMW owners demand the
best, and that's why we are confident that when it comes to the serious
business of protecting all of their assets, they will consult a professional
insurance agent who works for them.

    Founded in 1931, PIA is a national trade association which represents more
than 180,000 member insurance agents and their employees who sell and service
all kinds of insurance, but specialize in coverage of automobiles, homes and
businesses.