Buy-here, pay-here dealers as well as lease-here, pay-here operators now have another option for reinsurance products.

On Tuesday, MEI Group announced the launch of Empire Indemnity Insurance Co., RRG and National Lenders General Agency, specializing in reinsurance products for dealerships and finance companies in the BHPH, LHPH and point of sale markets.

According to a news release, National Lenders will be the exclusive managing general agency for Empire Indemnity.

The streamlined business structure with common ownership results in reduced risk, improved returns, and significant cost savings in the insurance vertical. National Lenders sells collateral protection insurance, limited warranty, and vendor single interest insurance products.

National Lenders is managed by president Ken Terkel and executive vice president and chief operating officer Eric Hurst, two highly seasoned industry veterans.

Terkel is an authority on auto finance solutions, having helped thousands of dealers and finance companies throughout his career and as the co-founder of SeaWest Financial Corp.

Before partnering with Terkel, Hurst held executive roles at NextGear Capital, AFC and RumbleOn.

Terkel manages National Lenders from its operations center in Houston. Hurst runs business development from its Carmel, Ind., location.

The company said its team is rapidly expanding its sales force into all regions of the country.

“Ken and Eric’s passion for our products is contagious, and no other platform offers what we sell. I have no doubt they will be successful in helping our clients build wealth,” MEI Group chairman of the board Sam Mahrouq said in the news release.

Terkel added, “It’s an honor to build this business with Eric, who’s been a personal friend for many years. Our customers are going to be very pleased with the returns and level of service we’re able to provide them.”

For more information, go to www.nationallenders.com.