Category Archives: Automotive

Five Major Trends Surfacing in the U.S. Consumer Service Contract Industry

Warranty Week estimates the U.S. service contract industry generated $40 billion in revenue in 2016 with $17 billion from vehicle service contracts and $23 billion from all other products and devices. Personal Safeguards Group estimates U.S. consumers spent approximately $33.4 billion on new and used vehicle service contracts (at retail prices) in 2016.  The numbers are hard to pin down, in part, because of the different ways contracts are classified and revenues reported. Sellers report revenue from retail sales whereas administrators report revenue from wholesale sales, and insurers report gross written premium. Warranty Week attributes slightly more than half the total volume to ten major players and the balance spread among 140 administrators and 33 admitted insurance companies. Any way you measure it, it’s a big industry, and getting bigger.

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Allied Solutions and Interstate National Announce 5 Year Partnership Renewal

Strengthening their longstanding commitment to the credit union community, Interstate National announced that Allied Solutions has renewed their strategic partnership for another five years.

Release:  http://markets.businessinsider.com/news/stocks/Allied-Solutions-and-Interstate-National-Announce-5-Year-Partnership-Renewal-1001739855

Volkswagen Extends Powertrain Warranty to Six Years/72,000 Miles

For the 2018 model year, most new Volkswagen vehicles in the US will come with a six-year, 72,000-mile bumper-to-bumper limited warranty – which doubles the current warranty.

Source:  http://www.fi-magazine.com/news/story/2017/09/volkswagen-extends-warranty-to-six-years-72-000-miles.aspx

SouthwestRe, DAC Sold to Canada’s Largest Publicly Traded Company

One of the largest life and health insurance companies in Canada has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. (DAC), for $135 million.

Source: SouthwestRe, DAC Sold to Canada’s Largest Publicly Trade Company

September 13-15, 2017 – 8th Annual Extended Warranty and Service Contract Innovations Event

Connectivity is today’s key success ingredient in service contract & warranty customer care. Hear from Amazon, Microsoft, GM, GE, Electrolux, and AMT Warranty about Customer Care in the New Digital Age and how connectivity is dramatically transforming the Warranty and Service Contract industry. We are proud to announce the 2017 agenda for this highly acclaimed 8th Annual Extended Warranty and Service Contract Innovations event, taking place September 13-15, 2017, at the Renaissance Hotel in Nashville, Tennessee. Use WN300 for a $300 discount. Register today at: http://www.warrantyinnovations.com.

Don’t miss hearing from 40 top industry leaders from multiple key industries in the extended warranty/service contract market. This all new event features ground breaking innovations ranging from sales, marketing, coverage, new technologies to customer experience, risk, legal, and global ventures.

N.J. Dealer Agrees to Pay $136,000 to Resolve Consumer Fraud Investigation

Sansone Hyundai and its directors agreed not to add and charge for aftermarket products, such as window etch and service contracts, without the consumers’ knowledge and/or authorization, or represent to consumers that certain dealer-installed options are mandatory when they’re not.

Source: N.J. Dealer Agrees to Pay $136,000 to Resolve Consumer Fraud Investigation

Telemarketers are not always agents of the Service Contract providers.

With several providers settling lawsuits in the past that claimed the telemarketers were agents of the Service Contract providers this is a positive and logical finding. In this case – Royal Administration Services Inc. could not be held liable for unsolicited calls made by independent contractors.

Article:  https://www.law360.com/california/articles/952938/9th-circ-won-t-restore-tcpa-claims-against-car-warranty-co-

8th Annual Extended Warranty and Service Contract Innovations Event – September 13-15, 2017

Connectivity is today’s key success ingredient in service contract & warranty customer care. Hear from Amazon, Microsoft, GM, GE, Electrolux, and AMT Warranty about Customer Care in the New Digital Age and how connectivity is dramatically transforming the Warranty and Service Contract industry. We are proud to announce the 2017 agenda for this highly acclaimed 8th Annual Extended Warranty and Service Contract Innovations event, taking place September 13-15, 2017, at the Renaissance Hotel in Nashville, Tennessee. Use WN300 for a $300 discount. Register today at: http://www.warrantyinnovations.com.

Don’t miss hearing from 40 top industry leaders from multiple key industries in the extended warranty/service contract market. This all new event features ground breaking innovations ranging from sales, marketing, coverage, new technologies to customer experience, risk, legal, and global ventures.

NAE/NWAN Becomes An Approved Provider On The Zero Plan®

STRONGSVILLE, Ohio, Aug. 2, 2017 /PRNewswire/ — NAE/NWAN and Universal Lenders LLC, creator of The Zero Plan®, announce today that they will be working together to offer financing solutions to auto dealers. This partnership will allow dealers to provide their customers who purchase NAE/ NWAN Vehicle Service Contracts and other cancellable Ancillary products, with premium financing through The Zero Plan®.
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