Most consumer goods bought in Maine have an implied warranty of four years. Retailers and service contract providers need to take note of whether they are selling programs on products that this law already covers.
Full Article: https://www.pressherald.com/2024/12/22/letter-be-aware-of-maines-implied-warranty-law/
The Minnesota Attorney General’s Office says a settlement has been reached with Edina Realty over alleged secret payments to promote home warranties.
AG Weiser filed a lawsuit against Champion Car Warranty and the company’s owners
Full Story: https://www.fox21news.com/news/ag-weiser-sues-cos-company-for-alleged-car-warranty-fraud/
Missouri lawmakers furthered the protections for consumer finances by signing a new law that affords additional options for people looking to keep their budgets safe.
Full Article: https://gapalliance.org/new-legislation-increases-protection-offerings-for-missourians/
Ohio Attorney General Dave Yost is suing First Premier Home Warranty and its owner, alleging that the New York-based company’s deceptive business practices have harmed Ohio consumers.
Full Article: https://www.ohioattorneygeneral.gov/Media/News-Releases/August-2024/AG-Yost-Sues-NY-based-Home-Warranty-Company-Allegi
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
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
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