Extending The Murky Divide Between Warranty And Insurance

By Brian Casey and Jon Gillum (August 21, 2017, 12:03 PM EDT) -- The legal line between what is a warranty versus insurance can be difficult to draw, and the consequences on each side of that line are profoundly different. A warranty can typically be issued by a business without a governmental license. But, the issuance of an insurance policy requires a state insurance department-issued certificate of authority, and unlicensed insurance conduct can result in divestiture of profits, civil penalties and criminal sanctions. Although some warranties are subject to general state deceptive trade practices laws, Article 2 of the Uniform Commercial Code, and the federal Magnuson-Moss Warranty Act, such substantive requirements pale in comparison...

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