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Comments
Ray T.
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kirstie_h
Roving Host & Future Vehicles Host
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2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
I am not sure if WG will actually have enough "reserve" funds to settle outstanding claims since this debacle got triggered, or to pay those people that cancelled their contract. Unfortunately, I need to shop around now for another extended warranty contract for my car. Anyone planning to sign up for another contract with WG with their new Administrator?
If anyone is ever ever ever considering a third party warranty again, please call your shrink and get some meds. NO OFFENSE! I will never get one again.
TO: MTRAINER2, the Tribune article actually says they new about it in 2002. NWIG told WG they were having difficulty meeting demand. WG didn't give a hoot they just kept taking everyone for a ride.
Before I purchased this car in 9/02 my prior vehicle, which I had for about 6 years was running about $600 per month in repairs up to the last repair, when I popped the timing belt & would have cost me $1,200. That's when I decided to dig it a grave & put the poor thing out of it's misery.
So...jhungness....a warranty w/a reputable company that is actually insured & doesn't use an RRG is still a sound idea.
With that said, I have been looking into getting a new warranty company & after extensive research of about 30 different companies, I've nailed it down to a few. I was wondering if anyone could give me some feedback on the following:
American Auto Warranty (aawaranty.com)
Auto Connection (autoconnection.com)
United American Warranty (unitedwarranty.com)
Car Warranties Direct (carwarrantiesdirect.com)
Auto Advantage, Inc. (autowarranties.com)_
If anyones heard of these, your feedback would be greatly appreciated.
If you want information on the research I've done to date, you are more than welcome to email me at unicorndreams8@aol.com. I'ld be more than happy to share any information I've compiled.
****************************************
Brand new car: Deal of the century...
Manufacturers Warranty: Couldn't be better...
Negating need for WG: PRICELESS!!!!!
(your already on Edmunds.com, check it out?!)
My wife loves your suggestion, she'll get rid of the 2000 Windstar for a new one, I think you started something here........thanks, maybe ! haha
I called WG to see where I stood should a repair be needed on either contracted vehicle and here's the blanket response all will get when requesting it in writing.......
Dear Mr. Tetrault:
This correspondence is designed to relate the facts and circumstances
pertaining to National Warranty Insurance Risk Retention Group (National
Warranty), Warranty Gold's administrator and insurer, and the impact of
those circumstances upon the holders of extended service contracts issued by
Warranty Gold..
Prior to June 9, 2003, when Warranty Gold contracted with a new
administrator and insurer, the administration of Warranty Gold contracts and
the payment of claims, if any, were the responsibility of National Warranty,
a certified risk retention group authorized to do business in all fifty
states. When each contract was sold, Warranty Gold was obligated to deposit
with National Warranty the amount of money which National Warranty and,
according to National Warranty, its certified actuaries, had calculated
would be necessary to pay claims under that contract. In addition, Warranty
Gold deposited with National Warranty a fee assessed for administration
services and an additional premium for insurance (National Warranty
possessed an A- insurance rating, which is excellent) which guaranteed the
payment of all covered claims, should the calculated cash deposits prove
insufficient to do so. Thus, the contract holder was protected from the risk
that National Warranty and its actuaries had not accurately predicted the
claims or losses to be incurred over the life of the respective contracts.
In addition, National Warranty had a reinsurance contract with an A-rated
carrier which was to further insure that National Warranty's obligations
would be met.
National Warranty provided the services described here to other extended
service contract providers. One such provider was in a dispute with National
Warranty and on June 6, 2003, National Warranty sought and received a
"provisional liquidation" order which had the effect of preventing any
lawsuits or other attempts to attack National Warranty. The accounting firm,
KPMG, was assigned to review National Warranty's finances and make
recommendations to the court, which is in the Cayman Islands, where National
Warranty was originally chartered. Cayman charters were specifically
permitted under the Federal Risk Retention Act, and National Warranty was,
until March, 2003, rated by A. M. Best as "A-". Additionally, National
Warranty was audited each year by Deloitte & Touche, a national accounting
firm.
Although Warranty Gold deposited all monies and insurance premiums required
to protect holders of Warranty Gold contracts, the KPMG representatives with
current authority over National Warranty's operations, determined that all
claims would be delayed until KPMG was able to determine whether or not
National Warranty was solvent. Consequently, Warranty Gold and other
companies which have fully performed all requirements and made all necessary
deposits have been unable to access monies or remit claims payments pending
the conclusion of the KPMG investigation.
On August 1, the Grand Court of the Cayman Islands entered an order finding
that National Warranty is insolvent and converted the Provisional
Liquidation into a Liquidation. KPMG was ordered to gather the assets of
National Warranty and distribute the assets equitably to Warranty Gold and
the other creditors of National Warranty. The total amount of the assets and
the method and timing of distribution is not known by anyone at this time.
We are in constant contact with the Liquidators and have retained lawyers in
the Cayman Islands and the United States to protect the interests of our
contract holders, in whose behalf the monies were deposited and insurance
purchased. We will be unable to access funds or inform you of the amount of
those funds until the Liquidators present a proposal. We will continue to
aggressively pursue assets and anyone responsible for the National Warranty
insolvency.
On June 9, 2003, the very day Warranty Gold was informed of the provisional
liquidation, it contracted with a new administrator and all service
contracts sold subsequent to that date are not involved in the National
Warranty proceeding and any claims under such new contracts are paid without
problems, as was the case prior to the liquidation proceeding. No contracts
will ever again be sold subject to any National Warranty involvement.
Warranty Gold is, in the courts and elsewhere, pursuing every avenue to
permit the payment of claims which were, and are, the responsibility of
National Warranty which received all of the monies related to the contracts
and issued insurance policies guaranteeing payment. However, Warranty Gold
is obligated to obey the orders of the court. Warranty Gold is painfully
aware of the inconvenience and hardship occasioned by these events over
which Warranty Gold has no control; as stated above, it has retained
attorneys in the Cayman Islands, New York and Texas to aggressively insure
that its recovery is maximized. Unfortunately, no one can say with certainty
how or when this situation will be resolved.
We greatly appreciate your patience and apologize for the inconvenience you
have experienced. We will notify you as soon as additional information is
available.
Respectfully,
Cathy Tjahja, Customer Service Representative
Ashley Taylor, Customer Service Manager
My reply to WG is.........
TO ANY COWARDLY WARRANTY GOLD rep following this thread, be afraid, be very afraid, MY DAY WILL COME WHEN YOUR ON THE RECIEVING END OF THE WRATH OF MANY AND THE JUSTICE SYSTEM ! You can screw some of the people some of the time but you can't screw us all !
Ray T.
That is exactly the same letter that WG sent to the BBB in regards to my complaint. (except it had a different signature); And I thought they took the time to write a letter just for me!!! (Ironic)
Warranty Gold is still not off the hook for me as they took us for $4300, and I will pursue them through every legal avenue I can find!!! But at least we can sleep at night knowing we won't be faced with another huge car repair bill we can't afford.
That is exactly the same letter that WG sent to the BBB in regards to my complaint. (except it had a different signature); And I thought they took the time to write a letter just for me!!!
Crewdog5
Discover Card has told me I may register a dispute for the charges on a "good faith" claim since you can only dispute a charge within 180 days of purchase, one policy bought 9/9/02 the other 12/9/00 so we'll see where this takes me. To be continued.
Ray T.
Crewdog5
Ray T.
Crewdog5
http://www.warrantynews.com/
I haven't gone through the site yet, but apparently they are trying to communicate with us.
If the monies are not WG's responsibility and it's all NWIC's responsibility like they always say and basically state on that site, and if WG's "has met all their obligations" like they have stated in writing to me, then why are they trying so hard to get this money? It's not their problem right? Why are they fighting so hard?
You might say that it's because they don't want this stinky mess to bring them down - true. But I still say that a large part of why they are trying to get this money is that they and their lawyers know the "we met our responsibility" crap won't wash in a court of law either.
How very nice and thoughtful of WG to have a website solely devoted to the NWIG problem. I wish they could show that sincerety by returning our moneys and paying our claims. Whether they have 1 or a gazillion web sites, all saying the same thing, nothing helps as much as a refund.
If there is, Please please please, contact me.
Erniejade@yahoo.com
1. I paid $453 out of my own pocket to have an air mass sensor installed.
2. Warranty Gold never even attempted to notify me that there would be problems with claims. You can bet that when the warranty was up they would have NO trouble finding me to extend the warranty.
3. When we called them to question it they tried to sell us ANOTHER policy and said that this new one would be paid !!! How much crack was this salesman smoking on the job?
4. Has any one tried getting the money refunded thru MasterCard? My entire cost was put on my credit card in 2001 and this was the first time using (trying to use) the warranty.
After reading all the articles about judges ruling and the release of some of the trust accounts I NEVER saw any mention of ANY account linked to WG.
I am wondering if they aren't some how connected?
Any help appreciated
Chris LaFlamme
claflamm@admin.umass.edu
This has turned into a debacle. If WG is SO concerned about its 65,000 NWIC contract customers it would have issued new policies under their new insurer and then fought with NWIC to recover the costs. To me it would represent that my money WAS backed up with a reserve.
I will do everything I can by word of pen and mouth to see that no unsuspecting person ever again gets stiffed by these shabby people. I have sent WG a bunch of new business over the years but no more.
BTW: The Texas AG's office is of NO use. WG sent the same EXACT response as was sent to the Better Business Bureau. The AG sees no crime in this company continuing to take money from people for worthless policies. I will not go down the road of Texas politics.
"Your claim administrator is with NWIG. Independent was your first claims
administrator but we had to transfer your contract to NWIG because they went
out of business a few years ago."
Anybody see a pattern here?
Also, I find it interesting that if the Administrator is fully responsible to pay claims (As WG is now claiming), why wasn't I informed of the change or given the opportunity at that time to cancel my policy?
swalker@lagcc.cuny.edu
If any of you live in the Tampa Bay area, and you're willing to talk with me about what happened to you, please contact me at bnewton@sptimes.com or 1-800-333-7505, ext. 8318. Thanks so much!
Are they simply pocketing their commissions and letting the chips fall where they may?
I don't have a WG contract, but was wondering why you folks don't contact NWIC and demand WG be taken out of the loop altogether. WG says all responsibility for all benefits and refunds belongs to NWIC, now controlled by liquidators (KPMG) who presumably have fiduciary responsibility for the best interests of the creditors and contractholders.
It seems to me that allowing WG to collect payments and commisions is not in the best interests of contractholders.
PA takes Internet fraud very seriously.
I read my contract very thoroughly and objectively. True some language says WG is not responsible. Other language points to WG responsibility.
I'm also going to dispute the CC charge.
Me thinks that WG is aggressively fighting for us the old customers for 1 reason. They know they are responsible. They're only hope is to ride out the storm with new customers. They're hope is that old customers will slowly wither on the vine.
This is one customer that isn't withering!
Each employee must be own their own to bring in enough cash to get paid that week? The longer they can continue the longer they get paid.
Since there is a lag between collecting and paying new claims, they may be able to go a while before the collapse, when the phone gets turned off.
Not alleging this is true just my take on similiar situations.
I received my extended warranty in March 2003 and paid around $1800 for it via Visa CC. Can I file a claim for a pro-rated amount against WG? Does my Visa CC protect me from fraudulent actions. I will call USAA to find out. Also, what are some other things we can do in the interim to protect and attempt to retrieve the money we have currently lost?
- File a complaint with the BBB
- Contact state DMV's
- What else can we do now??
The Attorney General for Austin has been worthless. I doubt that the DMV would care.
I filed with IFCC, as business took place over the internet. Of all venues, I place highest confidence in them as they really do not tolerate internet scam at all. The establishment date for WG and NWIG is identical, and if somehow we could establish evidence of their association, then FRAUD and SCAM and FELONY may be appropriate offenses resulting in appropriate punishment.
As long as they remain in business, they have no motivation to address this or make this right. They may have paid NWIG to adminster claims, but I guarantee you, they did not hand over our premiums, dollar for dollar. They have reaped great profit from us already. And with NWIG insolvent, they are not bound to replenish any 'reserve monies', as NO claims are being paid out.
Credit card chargebacks are the best possible direction at this point. For months I tried to convince WG to transfer my policies to the new administrator, as coverage would be my first preference. I filed claims for refunds on my CC a day or 2 ago, and am not holding my breath, but hope I am able to recover something.
I will buy a new car before I EVER buy another extended warranty!
Complaint:
http://www.webassured.com/address/compform.cfm?ID=265
Watchlist:
http://www.webassured.com/c/Business_Background_Report.cfm?ID=265
Let the games begin !
Ray T.
Crewdog5
Ray T.