Never a fan of Extended Warranties (Service Contracts), Consumer Reports once again published an article against buying Extended Warranties.
Although it is tempting to want to protect yourself, you need to consider if the cost is worth the protection these warranties provide
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
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Intact Financial Corp. has acquired a majority stake in Canadian service contract provider Comerco Services.
$139M nets MaintenanceNet, which automates service contract renewals.
Insurance services company unifies existing brands in order to maximize customer benefits and optimize their experience.
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.