New York Governor Hochul signed a new law designed to protect consumers from unwanted subscriptions.
Category Archives: Regulatory
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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National home warranty scam hits Wichita, DA warns it seems very real
WICHITA, Kansas – Assistant District Attorney Jason Roach is sounding the alarm on a scam going around Wichita and says this one might be hard to spot even for a trained eye.
Roach says the scammers take time to do research and write the home warranty renewal letters with information specific only to you.
Source: KAKA.com
Full Article: https://www.kake.com/story/48266857/national-home-warranty-scam-hits-wichita-da-warns-it-seems-very-real
Nevada Division of Insurance provides answers to frequently asked questions surrounding Service Contracts
Comprehensive Press Release from Nevada related to Service Contracts
Ohio AG sues fake home warranty company after more than 1,200 consumers complaints
Ohio Attorney General Dave Yost announced he is suing a phony home warranty company and its administrator for misrepresentation and immoral business practices.
Why Warranty Providers May Explore CCPA Exemption
By Brian Casey, Theodore Augustinos, and Alex Cox
Four years ago, the California Consumer Privacy Act[1] created a new, rigorous regulatory and data processing environment for businesses processing personal information of California residents.
However, many questions about the implementation of the CCPA, and its amendments through the voter ballot initiative of the California Privacy Rights and Enforcement Act of 2020,[2] still abound.
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