Tag Archives: SCRIP

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.

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