Tag Archives: Service Contract Reimbursement Insurance

Admin Obligor VSC Programs

Admin Obligor VSC Programs for Dealers and Administrators and Providers.

Sub $100 for complete compliant solutions.

http://adminobligorvsc.com/

Utah Vehicle Service Service Contract Statutes

Utah Code – Chapter 6a – Service Contracts

Visit http://dealerobligorvsc.com for more state statutes for vehicle service contracts.

This is Subject to Change – No guarantees are provided.  You should always verify the current requirements by visiting the State web site, contacting the State or through an appropriate legal advisor.

Dealer Obligor / Dealer Owned / Administrator Obligor and Third Party Obligor F&I Programs

Dealer Obligor / Dealer Owned / Administrator Obligor / TPO options available.

Perfect solutions for addressing regulatory and compliance or lender requirements. Options for small and mid-sized dealers with or without the need to reinsure.

http://dealerobligorvsc.com

Having Trouble Sourcing a Service Contract Reimbursement Policy for a Client?

If you are a P&C Agent or Broker trying to help a client obtain the correct type of insurance policy for state level compliance or lender requirements for a Service Contract Provider please feel free to contact Mike Frosch, President of Personal Safeguards Group, LLC.

Service Contract Reimbursement Insurance (SCRIP)
Contractual Liability Insurance Policy (CLIP)
Contractual Liability Reimbursement Policy (CLRP)

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Utah Amends Service Contract Regulations

Utah Code, 31A-6a, Chapter 6a Service Contracts has been amended and expands the definition of a Service Contract Reimbursement Policy or Reimbursement Insurance Policy to now read:

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Ohio Consumer Goods Service Contract Reimbursement Insurance Policy Requirement

This is a requirement in Ohio that can be missed by a service contract provider for consumer goods service contracts.  

Note item (B) related to the Reimbursement Insurance Policy requirement if a service contract on consumer goods covers power surges or accidental damage. (see below)

3905.423 Consumer goods contracts to be covered by reimbursement insurance. Continue reading

Personal Safeguards Group, LLC has completed another project to direct source a Service Contract Reimbursement Policy for a Service Contract Program

Personal Safeguards Group, LLC has completed another project to direct source a Service Contract Reimbursement Policy for a Service Contract Program.

Service Contracts (extended warranties) have specific requirements on a state by state basis. The product is not insurance but does have significant requirements.

For retailers, manufacturers and marketers that serve as the provider (aka obligor) for a Service Contract Program (Extended Warranty Program) the placement of a Service Contract Reimbursement Insurance Policy “SCRIP” / Contractual Liability Insurance Policy “CLIP” is often the easiest way to comply with the regulations in many states.

Source:  http://personalsafeguardsgroup.com

What to do to get a Refund for a Vehicle Service Contract

There have been several articles in the news related to consumers that purchased a Vehicle Service Contract (VSC) from a Direct Marketer and have had challenges getting a refund.   The consumer may have purchased the VSC on the web or in response to a mailer or a call.

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