The purpose of the NCSCA is to provide member organizations with:
Education and monitoring of state regulation of commercial service contracts.
Develop, draft and lobby for adoption of model regulation favorable to the commercial service contract industry.
Establish a forum to provide education and develop best practices related to issues such as claims/loss management, use of captives, product design/development, etc.
Provide guidance and support on how to generate profit centers through commercial service contract programs.
AN INDUSTRY MINDSHIFT
While consumer service contracts are carved out of general insurance regulation in most states, in many states commercial service contracts are not:
Some states exempt commercial service contracts from regulation, though even the exemptions are sometimes unclear.
In most states, due to a lack of clear and explicit carve-out, regulators could treat commercial service contracts as insurance.
The industry must become proactive and work to shape the future of commercial service contract regulation.
Model Law Drafting
Use of Captives
To learn more about Member Services & Benefits, view this brochure.