Tag Archives: Service Contract

Consumer Reports Once Again Dismisses Extended Warranties

Never a fan of Extended Warranties (Service Contracts), Consumer Reports once again published an article against buying Extended Warranties.

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To Buy a Service Contract or Not to Buy a Service Contract – That’s the Question

To Buy a Service Contract or Not to Buy a Service Contract – That’s the Question

Should you buy an extended warranty?

Although it is tempting to want to protect yourself, you need to consider if the cost is worth the protection these warranties provide

Source:  http://www.azcentral.com/story/money/business/contributor/2016/06/06/should-you-buy-extended-warranty/85283922/

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

Intact Insurance acquires Comerco Services

Intact Financial Corp. has acquired a majority stake in Canadian service contract provider Comerco Services.

Full Article:  http://www.furnituretoday.com/article/522690-intact-insurance-acquires-comerco-services

Cisco buys cloud-based contract administrator – MaintenanceNet

$139M nets MaintenanceNet, which automates service contract renewals.

Full Article:  http://www.networkworld.com/article/2944756/cloud-computing/cisco-buys-cloud-based-contract-administrator.html

Fortegra Financial Unifies Existing Divisions into a Single Marketing Brand

Insurance services company unifies existing brands in order to maximize customer benefits and optimize their experience.

Full Press Release:  http://www.businesswire.com/news/home/20150106005440/en/Fortegra-Financial-Unifies-Existing-Divisions-Single-Marketing#.VK1CJIrF87O

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