For service contract sellers and providers in Florida, it is important to review Section 501.165 of the Florida Statutes if you offer programs that automatically renew consumer service contracts.
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Category Archives: Powersports
Kerper and Bowron LLC Unveils Patent-Pending Method To Transform Service Contract/Extended Warranty Accounting for $250 Billion + Global Industry
Kerper and Bowron LLC recently announced a breakthrough in service contract and extended warranty accounting that fundamentally changes how the global service contract industry recognizes revenue, manages reserves, and unlocks billions in lending capital in the United States.
Full Release: https://kerper-bowron.com/blog/kerper-and-bowron-llc-unveils-patent-pending-method/
How the Meramec Secure® Platform Supports Companies Bringing Financial Strength to Their Guarantees and Warranties
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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Is it a CLIP or a SCRIP or a CLRP or PWI or PGI
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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Using a Contractual Liability Insurance Policy (CLIP) for Limited Warranties or Service Guarantees
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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Meramec Secure Launches Expanded Website Related to Use of a CLIP (Contractual Liability Insurance Policy)
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.
Warranty & Service Contract Innovations
Join us for Warranty & Service Contract Innovations for Vehicle, Home, Smart Products & Consumer Goods, scheduled for April 17-18, 2024, at the Hilton DoubleTree in Nashville.
This is an exclusive 2-track event that affords a deep dive into industry-specific topics for Auto, Truck, Home, Appliance, Consumer Electronics, Mobile and more! By popular demand, the expanded coverage this year features more topics unique to each market plus best practice case studies, panel discussions, news flashes, and round table discussion groups.
There will also be combined general sessions bringing everyone together to learn from all sides of the industry.
To register, please visit: www.globalwarrantyinnovations.com. Use Discount Code WN300 for $300 off.
EFG Companies Launches Two New Marine Protection Products, and an Enhanced Powersports GAP Program
EFG Companies’ new marine and power sports protection products increase dealership back-end margins while giving consumers added confidence despite expensive repairs and uncertain economic times.
Building a Manufacturer’s In-House Service Contract Program
It’s never been easier for a manufacturer to build an in-house service contract program
Visit Meramec Secure for more information.
New PCMI Whitepaper Releases: Driving Extended Warranty & Service Contract Revenue Growth Through the Use of Automation
Data-packed insights from a research study among Warranty and Aftermarket Service professionals looking at the role of software applications that automate the configuration, administration, and management of EW/SC programs in driving revenue growth.
- The role of software applications in selling extended warranties and service contracts
- Servitization and how technology can optimize the customer experience
- How the right sales and marketing strategies can increase revenue growth
Read the Full Whitepaper: https://www.pcmicorp.com/whitepaper-driving-extended-warranty-and-service-contract-revenue-growth-through-the-use-of-automation-form/