Category Archives: General

Blurred Lines: Another Case of Service Contract v. Warranty v. Insurance Confusion

By Brian T. Casey and Jon L. Gillum

In a brand new opinion, the Oklahoma Supreme Court in Sparks v. Old Republic Home Protection Co., Inc. [1] held that what appeared (and was likely intended) to be a “service contract” was actually an insurance contract by way of also being a warranty, thereby preventing enforcement of an arbitration clause in the contract. Say what?

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Clyde raises $14 million Series A to help e-commerce businesses offer extended warranty plans

Clyde, an extended warranty startup helping small e-commerce businesses offer service contracts, announces it has raised a $14 million Series A led by Spark Capital with participation from Crosslink, RRE, Rea Sea Ventures and others. 

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Personal Safeguards Group (PSG) Supports Creation of a New Consumer Products Service Contract Provider

PSG provided support in every step of forming and operating a new service contract provider in North America. PSG leverages deep contacts in the warranty industry to help facilitate the entry into the space.

PSG’s roadmap includes support with:

  • State level service contract requirements
  • Financial guarantee options (CLIP/SCRIP)
  • Sales and claims administration processes
  • Creation of rates and reserves
  • Creation of forms and coverages
  • Selecting administration technology
  • Repair infrastructure options

The PSG process is designed to support Independent Providers, Original Equipment Manufacturers (OEM) and Retailers. OEMs and Retailers can in-source or outsource individual elements of their program for their Service Contract Program allowing individual structures to address revenue recognition issues, customer experience & lifetime value and overall program design and development.

Process Flow to Form Warranty Company

Contact Personal Safeguards Group for more information. https://personalsafeguardsgroup.com

Personal Safeguards Group Releases 2020 Service Contract Industry Projections

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

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.

Justin Thomas Joins PayLink Direct as its new President & COO

CHICAGO, IL
April 30, 2019

PayLink Direct, one of the extended service contract industry’s largest financial service providers of payment plan programs and transaction processing, is pleased to welcome Justin Thomas as its new President & COO.

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Mastercard Adds New Benefits for World and World Elite Cardholders

The new benefits with Lyft, Fandango and Boxed will replace Mastercard’s extended warranty and price protection programs.

Full Article: https://www.nerdwallet.com/blog/credit-cards/mastercard-adds-new-benefits-world-world-elite-cardholders/

ServicePower Announces Partnership with Safeware to Implement Comprehensive Third-Party Solution Suite

Safeware’s Authorized Service Network will use Claims, Dispatch and Onboarding solutions by ServicePower

Full Release: https://www.prnewswire.com/news-releases/servicepower-announces-partnership-with-safeware-to-implement-comprehensive-third-party-solution-suite-300821824.html

Act Now – Field Service Palm Springs 2019

April 23 – 26, 2019 

JW Marriott Palm Desert Resort & Spa

Field Service is where cross-industry service, support, and customer success leaders come together to build world-class service and support operations. With forward-looking content and unique session formats, Field Service is designed to help you achieve service excellence and drive profitability.

Discount: 20% off with code:    WARRANTY20      

Web Link: https://bit.ly/2Lta2af