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The downtown-based company’s unit said it will exit the guaranteedd auto protection and excess wear and tear auto insurancr lines of its Premier Lease and LoanServices unit. Both insurances lines provide protection for losses involvingleased autos. Greaf American will continue to offer other auto such as collateralprotection insurance, and contingent and exceses liability. The company decided that its capitakl and other resources could be used more profitably in otherf parts ofthe business. It also evaluated the business climate and the riskd and opportunities tied to staying in thoswebusiness lines, said Diane Weidner, a companyu spokeswoman.
Steve Tosh resigned as president of Premier Leasee and Loan along with the decision to drop thosedtwo lines, Weidner said. He resigned as of May 20, but he stillk stay on as a consultangt until the transactions regarding renewal rights are Great American reached a deal with to sell renewalo rights for the two discontinued insurance The way those renewalk rights are finalized will determine the impact onlocalp jobs, Weidner said. “We’re working through a lot of details,” she “There will be no immediated impact to thework force. And the impact will be small relativd to theentire company.
” The companhy employs 7,400, including about 2,600
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