What typically are the other events?Involuntary unemployment. Thank you?That would be the other one, yes. Walk away insurance was another?Yes. What was that insurance for?That was insurance where a policyholder could take a vehicle back to a dealer and claim the difference between the price of the vehicle and the outstanding loan amount, if if policy conditions did apply. – All right. And then protection plus insurance?Yes, that that is what walk away – turned into in approximately February of 2015. There was a name change to the policy and some variations were made to that policy type. And the first three policy types that we’ve just spoken about, they’re all forms of consumer credit insurance?Consumer credit insurance, yes. Guaranteed asset protection or gap insurance was another?Yes, it was. What was that insurance for?So that’s insurance to insure effectively the gap between the value of a motor vehicle should the vehicle be written in an accident and the difference between that value as determined by an insurer and the loan loan the – – outstanding amount on the loan. you. There was then purchase price protection insurance?Purchase price protection insurance, that’s right. Is that a form of gap or is it different to ?It’s different. It is a policy of insurance that a policyholder can purchase that insures the difference between the purchase price of the vehicle and the amount the the value determined of the vehicle – – should the vehicle be written off. So the difference between the two is that the gap insurance is the is insuring the – gap between the amount paid out under a comprehensive policy of insurance?Yes. And the amount outstanding under the loan?Loan, yes. And with purchase price insurance it’s similar to gap insurance?Yes. But it’s the difference between the market price of the vehicle and the amount paid to the financier?Purchase price of the vehicle. The purchase price of the vehicle?Yes. Thank you. There’s another type of insurance which is mechanical breakdown insurance?Yes.
What typically are the other events?Involuntary unemployment. Thank you?That would be the other one, yes. Walk away insurance was another?Yes. What was that insurance for?That was insurance where a policyholder could take a vehicle back to a dealer and claim the difference between the price of the vehicle and the outstanding loan amount, if – if policy conditions did apply. All right. And then protection plus insurance?Yes, that – that is what walk away turned into in approximately February of 2015. There was a name change to the policy and some variations were made to that policy type. And the first three policy types that we’ve just spoken about, they’re all forms of consumer credit insurance?Consumer credit insurance, yes. Guaranteed asset protection or gap insurance was another?Yes, it was. What was that insurance for?So that’s insurance to insure effectively the gap between the value of a motor vehicle should the vehicle be written in an accident and the difference between that value as determined by an insurer and the loan – loan – the outstanding amount on the loan. you. There was then purchase price protection insurance?Purchase price protection insurance, that’s right. Is that a form of gap or is it different to ?It’s different. It is a policy of insurance that a policyholder can purchase that insures the difference between the purchase price of the vehicle and the amount the – the value – determined of the vehicle should the vehicle be written off. So the difference between the two is that the gap insurance is the – is insuring the gap between the amount paid out under a comprehensive policy of insurance?Yes. And the amount outstanding under the loan?Loan, yes. And with purchase price insurance it’s similar to gap insurance?Yes. But it’s the difference between the market price of the vehicle and the amount paid to the financier?Purchase price of the vehicle. The purchase price of the vehicle?Yes. Thank you. There’s another type of insurance which is mechanical breakdown insurance?Yes.
transcript-18-september-2018.docx