Are things moving a bit too fast with connected cars? Continue reading
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Category Archives: Risk Management
Moving too fast?
Filed under Risk Management, Warranty
Legionnaires’ Disease Poses Liability Risk to Product Manufacturers
A recent outbreak in the South Bronx claimed 12 lives, left another 120 victims infected and put Legionnaires’ Disease back in the headlines. Besides being potentially fatal, LD poses a serious product liability and warranty liability risk to the manufacturer of any product that holds or stores water. This group includes manufactures of HVAC equipment, water heaters, water tanks, plumbing fixtures and supplies and companies that include these items in their products, such as mobile home, motorhome and travel trailer makers. But once appreciated the liability risk can be effectively managed. Here are a few things you should know about the disease and some suggestions for managing the liability risk it poses. Continue reading
Filed under Best Practices, Risk Management, Warranty
The Reptile’s In Our Midst – Defending against the “Triune Brain” trial strategy
As you’ve surely heard by now, the plaintiffs’ bar has come up with a can’t-miss-science-based trial strategy. Its creators boast that it has produced over $6.25 billion in jury verdicts and settlements in personal injury suits since 2009, including nearly $19.2 million in the past week alone. And they’ve given their strategy a name; it’s called: The “Reptile Theory.” While there are many who dispute its claimed scientific basis (here, here, here), defendants who’ve squared-off with the Reptile don’t doubt its effectiveness. Continue reading
Filed under Best Practices, Court Decisions, Risk Management
Consumer Reports to consumers: Choose risk or over peace of mind
In a September 6 piece, Why you should avoid home warranties, Consumer Reports again takes a shot at service contracts. Noting a recent complaint filed by New Jersey regulators against Choice Home Warranty for allegedly making it difficult to obtain benefits, CR “recommend[s] avoiding service contracts” because those “that cover homes and cars, for example, can cost hundreds of dollars.” But what if the car or home costs many thousands of dollars? Isn’t spending a few hundred bucks on a service contract worth it to minimize risk and secure peace of mind? “No,” says CR, “it makes much more sense to buy reliable products and maintain them as the manufacturer recommends.” Now it’s clear, just buy things that won’t malfunction or fail. Continue reading
Are warranties withering? Will service contracts surge?
Warranties are withering, claims an Arizona State marketing professor. This, he says, bodes well for service contract industry profits, but not for consumers.
But in many product sectors warranty is expanding and recent studies show that consumers believe that service contracts deliver value. Continue reading
Filed under Customer Experience, Risk Management, Service Contract, Warranty
Plain and simple
Want a better relationship with your customers? Want to spend less time and money dealing with frustrated or irate customers? Want more customers to walk out of the store with your extended warranty or service plan? There’s a sure fire way to make these things happen, plain and simple. Continue reading
Debating Warranty Arbitration
Robert J. Cloburn, CAIB, of Vancouver and Gregory Smith of Dark Room Perfection shared their views on a recent post, Arbitration wins another court battle. Here, I offer a few follow up thoughts. Continue reading
First Annual GWSCA Conference & Industry Summit
The Global Warranty and Service Contract Association (www.gwsca.org) is holding its First Annual GWSCA Conference and Industry Summit October 6-8, 2014 at the Millennium Knickerbocker Hotel, a landmark on Chicago’s Magnificent Mile. Continue reading
GUEST POST: It’s Time to Stop Running from Recalls
GUEST BLOGGER: Jim Martinez, RightStoryGroup
On July 1, the New York Times carried a news analysis claiming that GM’s recent recalls threaten the company’s reputation. The same day, GM announced its best June sales figures since 2007.
Rising sales show that the biggest threat to GM’s corporate reputation isn’t recalls, but rather critics willing to irresponsibly forecast the company’s demise. Continue reading
Filed under Best Practices, Customer Experience, PR & Branding, Risk Management
Don’t fear the recall
In a recent interview, former GM CEO, Bob Lutz, observed that recalls “captivate the media, but the U.S. public absolutely couldn’t care less.” Yet for many product makers, the prospect of a safety recall sends a chill down the spines and a queasy feeling into the guts of the folks in C-suite as well as the legal, marketing, and finance departments.
I think Lutz may be on to something. Continue reading
Filed under Best Practices, Customer Experience, PR & Branding, Risk Management
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