The order was issued against First Premier Home Warranty Corp. for the unauthorized sale of home warranty contracts in Oklahoma.
Full Article: https://www.oid.ok.gov/release_040924/
Category Archives: Regulatory
Washington State Insurance Commissioner fines Home Warranty company $100,000 for operating illegally
First Premier Home Warranty Corp fined $100,000 and ordered the New York-based home warranty company to stop conducting insurance business in Washington.
Full Release: https://www.insurance.wa.gov/news/kreidler-fines-new-york-based-company-100000-operating-illegally
FTC Announces Enhanced Penalties for FTC Combating Auto Retail Scams (CARS) Rule Violations in 2024
The enhanced penalties took effect on January 10th and will impact the Combating Auto Retail Scams (CARS Rule) and existing violations for unfair and deceptive acts and practices.
Full Article: https://complynet.com/resources/articles/enhanced-penalties-for-ftc-violations-in-2024
FTC, Connecticut Take Action Against Auto Dealer for Deceiving Consumers, Forcing Junk Fees
The Federal Trade Commission and the State of Connecticut are taking action against an auto dealer, its owner, and several key employees for systematically deceiving consumers about the price of certified used cars, add-ons, and government fees.
New York enacts new requirements for subscription auto-renewals and credit card surcharge pricing
New York Governor Hochul signed a new law designed to protect consumers from unwanted subscriptions.
Warranty Innovations National Forum
Chicago on October 17-18, 2023, at the Palmer House Hilton
200+ warranty industry leaders will convene for The 14th Annual Extended Warranty & Service Contract Innovations National Forum in Chicago on October 17-18, 2023, at the Palmer House Hilton. This highly acclaimed annual event convenes decision-makers across multiple industries who praise the practical, hands-on solutions presented, which they find helps them extract key takeaways that help them with their unique challenges.
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Ore. Warranty Ruling Complicates Insurance Classification
By Brian Casey, Jon Gillum and Greg Norton
The Oregon Court of Appeals recently held in TruNorth Warranty Plans of North America v. Department of Consumer and Business Services, that a service contract — commonly referred to as an extended warranty — covering commercial property is subject to Oregon’s consumer service contract laws.[1]
The holding was the result of a rare judicial appeal from an administrative law judge’s decision.
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U.S. Treasury Department Issues Proposed Regulations To Finally Eviscerate Microcaptive Tax Shelters
The U.S. Department of the Treasury has finally regulations to deal with so-called microcaptive transactions.
Microcaptives are, for the most part, insurance companies that attempt to qualify for treatment under section 831(b) of the Internal Revenue Code by way of a shared risk-pool arrangement which only superficially provides risk sharing and risk distribution for tax purposes, and whose real purpose is to provide inflated deductions for the businesses that the microcaptives are insuring.
Read the Full Article: https://www.forbes.com/sites/jayadkisson/2023/04/11/us-treasury-department-issues-proposed-regulations-to-finally-eviscerate-microcaptive-tax-shelters/
FTC Sends $3.3 Million to Consumers over Illegal Junk Fees
The FTC is sending payments totaling more than $3.3 million to customers of Passport Auto, a Washington D.C.-area auto dealer.
Full Article: https://usedcarnews.com/index.php/component/k2/item/4780-ftc-sends-3-3-million-to-consumers-over-illegal-junk-fees
2nd Annual Global Warranty & Service Contract Innovations Conference
April 18-19, 2023, at the Hyatt Regency Long Beach, California
Hear top industry leaders discuss tools and strategies for cross-functional, data-driven new product development, customer service to expand market share and ensure compliance. The all new agenda features riveting case studies and timely panel discussions. Plus, you’ll want to participate in the always-popular industry-specific roundtable discussion groups and hot off the press market news flashes from Warranty Week.
To register and view the schedule of events, please visit: www.globalwarrantyinnovations.com. Use the WarrantyNews discount code: WN300 for $300 off while available.
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