Montana Owners Club - Keystone Montana 5th Wheel Forum - View Single Post

richfaa · 11-10-2006, 06:28 AM

FYI
Consumer Alerts and customer complaints on American Guardian's USA Travel Care Warranty backed by St. Charles RRG.
St. Charles RRG is a Risk Retention Group!!!

St. Charles RRG is not rated by A. M. Best A. M. Best Website

Some companies selling this highly risky and highly complained about warranty policy online include:

Warranty Services Company
RV Protection.net
RV Warranty.com
Web Direct Warranty
and others!

Buyer Beware!
BBB complaints on American Guardian's USA Travel Care warranty have almost equaled the two previous yeas complaints combined!!!

Number of complaints processed by the BBB in the last 36 months: 109
Number of complaints processed by the BBB in the last 12 months: 53

You have to ask yourself one question, Is this the warranty that I want take care of me when I most need it?

Better Business Bureau Report
Consumer Affairs Department
Customer Complaints
Warranty companies backed by Risk Retention Groups that are insolvent include the following with the most recent in December 2005:
Warranty Gold
1st Assured
Who could be next?

Risk Retention Groups ("RRG's") are federally chartered and are not required to undergo the scrutiny of insurance regulators in each of the states in which they do business. There is little or no oversight of Risk Retention Groups by any Federal agency and relatively little, if any, checks and balances from state regulators to insure that RRG's comply with sound insurance and/or business practices. There is no "Guaranty Fund" or other safety net for dealers or contract holders in the event a RRG becomes insolvent.

Risk Retention Groups can be established with very little capital ($500,000 or less). Because of their size many RRG's lack the sophisticated staff/professionals (risk managers, actuaries, underwriters, etc.) necessary to ensure that adequate funds are being placed in reserves to pay for future claims. The lack of experienced staff combined with an almost manic desire to grow business has resulted in some RRG's allowing their agents to sell extended service contracts at inadequate and unsafe rates.

11-10-2006, 06:28 AM	#4
richfaa Montana Master Join Date: Jan 2005 Location: North Ridgeville Posts: 20,229 M.O.C. #2839	FYI Consumer Alerts and customer complaints on American Guardian's USA Travel Care Warranty backed by St. Charles RRG. St. Charles RRG is a Risk Retention Group!!! St. Charles RRG is not rated by A. M. Best A. M. Best Website Some companies selling this highly risky and highly complained about warranty policy online include: Warranty Services Company RV Protection.net RV Warranty.com Web Direct Warranty and others! Buyer Beware! BBB complaints on American Guardian's USA Travel Care warranty have almost equaled the two previous yeas complaints combined!!! Number of complaints processed by the BBB in the last 36 months: 109 Number of complaints processed by the BBB in the last 12 months: 53 You have to ask yourself one question, Is this the warranty that I want take care of me when I most need it? Better Business Bureau Report Consumer Affairs Department Customer Complaints Warranty companies backed by Risk Retention Groups that are insolvent include the following with the most recent in December 2005: Warranty Gold 1st Assured Who could be next? Risk Retention Groups ("RRG's") are federally chartered and are not required to undergo the scrutiny of insurance regulators in each of the states in which they do business. There is little or no oversight of Risk Retention Groups by any Federal agency and relatively little, if any, checks and balances from state regulators to insure that RRG's comply with sound insurance and/or business practices. There is no "Guaranty Fund" or other safety net for dealers or contract holders in the event a RRG becomes insolvent. Risk Retention Groups can be established with very little capital ($500,000 or less). Because of their size many RRG's lack the sophisticated staff/professionals (risk managers, actuaries, underwriters, etc.) necessary to ensure that adequate funds are being placed in reserves to pay for future claims. The lack of experienced staff combined with an almost manic desire to grow business has resulted in some RRG's allowing their agents to sell extended service contracts at inadequate and unsafe rates.