Media

MIC Advertisement

I was with Motors Insurance Corporation (MIC), the Insurance People from General Motors. We were formed in 1925 to provide physical damage coverage for General Motors vehicles sold by dealers and financed by General Motors Acceptance Corp. (GMAC). Our overall mission was to help dealers sell GM cars and trucks and earning a profit was somewhat secondary. I was hired in 1961 in Denver and transferred to Little Rock before I reported for work.

General Motors dealers were our only agents and they sold our products on new and used vehicles in order to deliver the vehicle and to earn a commission. Our field adjusters handled the claims when accidents were reported, also through the dealers. Adjusters were keypointed throughout each branch and were responsible for service in their territories. These adjusters had the responsiblilty and the AUTHORITY to handle every situation in their areas and they worked long and hard to give SERVICE SECOND TO NONE. The only people I have known who were as dedicated to their jobs and as determined to look after GM business were the United States Marines with whom I served in the early fifties in Korea.

MIC was the first insurance company to offer comprehensive insurance coverage on a mass basic. In 1973-74, MIC developed and introduced mechanical coverages for new vehicles and for certain certified used vehicles. MIC developed the first GENERAL MOTORS CONTINUOUS PROTECTION PLAN, later shortened to GENERAL MOTORS PROTECTION PLAN for new vehicles. At one time MIC insured most of the dealer inventory and was famous for the speedy and organized handling of catastrophe losses around the country. Many retired field personnel still gather and handle hail, flood and other types of catastrophe losses at General Motors dealerships.

MIC Special Agents, later titled Agency Relations Supervisors, assisted dealers in analyzing their finance and insurance operations in order to maxamize profits. As Finance and Insurance profits became more essential to the overall profit picture, MIC personnel assisted dealers in establishing and managing their finance and insurance departments.

MIC also provided feedback to the divisions by completing Product Information Reports and Collision Performance Injury Reports on certain current models. A number of product changes/improvements were the result of these reports.

I retired from Detroit in 1992 and for the last four years was the sales liaison between MIC and GMAC as GMAC absorbed many of MIC's duties. What used to be MIC is now known as GMAC Insurance.

C. L. (Bud) Nelson, Jr.

Tag Cloud

English