MAPconnected is a great network to keep the pulse on the Automotive Warranty world. The collaboration among its members is of incredible value to General Motors, and ultimately benefits our customers, by delivering high-quality products and exceptional warranty aftercare services.
— Jose Clemente, Warranty Performance Manager – General Motors
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David McDavid Honda of Irving, a dealership under the umbrella of Asbury Automotive Group, is at the center of a Federal Trade Commission (FTC) lawsuit alleging deceptive sales practices and discrimination.
Jimmy Patronis announced an investigation by the Florida Department of Financial Services’ Division of Agent and Agency Services into nationwide vehicle service contract company CarShield for deceptive sales practices in Florida.
Full Article: https://www.mysuncoast.com/2024/08/21/cfo-jimmy-patronis-announces-investigation-into-carshield-deceptive-sales-practices/
The New Hampshire Insurance Department announced the passage and signing into law of SB515, legislation designed to enhance consumer protection through revised requirements for consumer guarantee contracts.
Full Release: https://www.insurance.nh.gov/news-and-media/new-hampshire-insurance-department-announces-passage-sb515-enhanced-consumer
Blink Charging Company has partnered with EVSTAR to introduce an extended warranty for Blink’s U.S. customers.
Full Article: https://theevreport.com/blink-and-evstar-launch-5-year-ev-charger-warranty
Service Contracts, Limited Warranty, and Specialty Insurance and Service Programs
The site includes example uses for Service Contracts, Limited Warranties, Specialty Programs, and Service Programs, as well as example CLIP structures, profit participation options, and an example rate builder.
A CLIP is a great way to address regulatory and compliance requirements for Service Contracts. OEMs also use CLIPs to transfer risk off their balance sheets for their limited warranty programs. In addition, CLIPs are often an effective method to support service-oriented programs, including certain travel, event, and waiver programs.
View the site at https://contractualliabilityinsurance.com
ContractualLiabilityInsurance.com is a property of © Meramec Secure, Inc.
Transform your customer experience with our PCRS administration software’s customizable payment schedules. Offer home warranty plans with a variety of convenient options that reduce upfront costs and attract more buyers. Expand your product offering and meet the needs of all customers, regardless of their financial situation.
Read the entire article: New Home Warranty Feature: Flexible Installment Plans (pcmicorp.com)
September 23-25, 2024, Palmer House Hilton, Chicago, Illinois.
This year’s event takes a deep-dive into new frontiers in extended warranty and service contract innovations!
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This comprehensive whitepaper covers success-driven strategies for keeping your consumer extended warranty business thriving. It includes timely and effective techniques for keeping up with continuous growth, and how your business can keep its competitive edge for years to come.
Download Link: https://www.pcmicorp.com/whitepaper-sustainable-growth-strategies-for-consumer-extended-warranty-markets-form/
The British Columbia Financial Services Authority has issued Regulatory Statement RS 24-008: Product Warranty, Vehicle Warranty, and Automobile Insurance. This Regulatory Statement has implications for manufacturers, administrators, motor vehicle dealers, and third-party providers of motor vehicle service contracts.
Full Article: https://mcmillan.ca/insights/service-contracts-considered-automobile-insurance-in-british-columbia/