With new innovative services and products comes a certain degree of uncertainty about whether the company making the promise can truly fulfill its commitments. Everyone can relate to companies offering incredible guarantees or warranties that are now out of business, or those making service promises that don’t deliver.
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The correct term depends on what you’re looking to accomplish. Navigating the different insurance policy terms can be confusing, as their meanings and applications often overlap. The fundamental foundation is the Contractual Liability Insurance Policy (CLIP) for all the variations.
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Businesses offering Limited Warranties or Service Guarantees frequently encounter the question, “What backs this warranty or guarantee?”
This question is critical to clients seeking peace of mind that something supports the warranty or guarantee beyond the company’s promise. In some cases, clients will not do business with a company that doesn’t have adequate backing for its promise or guarantee.
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With just a few pieces of data, this tool calculates a rate for a service contract or limited warranty using a typical industry model. The rate development tool is available online at Warranty Resources.
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NEW YORK and CHICAGO, March 10, 2022 /PRNewswire/ — Amynta Group (“Amynta” or “the Company”), a leading insurance services company, announced today that funds affiliated with Madison Dearborn Partners, LLC (MDP), a leading Chicago-based private equity investment firm, have acquired all of the equity interests in Amynta held by AmTrust Financial Services, Inc. (“AmTrust”).
The Fidelity Rewards Visa Signature card is ending its auto rental collision damage waiver and extended warranty protection benefits. Fidelity is adding access to ID Navigator from NortonLifeLock.
Full Article: https://www.investopedia.com/fidelity-swaps-two-popular-credit-card-perks-for-identity-theft-protection-5115345
White Paper on the Effects of Product Protection on Consumer Confidence and Willingness to Pay
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UPDATE: The shutdown driven by the CoronaVirus will greatly impact every category in 2020. This should be viewed as a run rate prior to the shutdown.
For 2020 Personal Safeguards Group projects over $61b at retail for consumer related service contracts.
Automotive continues to lead the industry in terms of gross revenue with 2020 projected at over $33b for Vehicle Service Contracts and over $6.4b for Ancillary products.
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10th Annual Extended Warranty & Service Contract Innovations National Forum
Extended Warranty & Service Contract Innovations is your gateway to learning new tools and strategies across industries to streamline operations, improve customer service, optimize your marketing & sales programs, and ensure compliance with evolving regulations.
The community focuses on how to drive down costs and think creativity about new ways to provide value and expand market share. See more at: https://www.warrantyinnovations.com
Use discount code WN300 to get a $300 discount off the price of registration.