Complaint Review: National Warranty Insurance Company & OmniAuto

Re: Extended warranties on cars.

OmniAuto writes extended warranties on cars (generally used cars). National Warranty Insurance Co. handles the claims and insures payment of claims. But as of 6-6-03 National Warranty Insurance Co. is in liquidation in Cayman Islands Courts and cannot pay any claims.

OmniAuto of Irving, Tx. through the CEO-President, Susan Marino, will not answer mail, phone calls, fax or e-mails on what position OmniAuto will take on honoring warrnanty repair claims.

According to an AP story on 6-6-03 quoting the Insurance Commisioner of Nebraska, National Warranty Insurance Co. had 200,000 policy holders nationwide as of 6-03. OmniAuto wrote a large portion of the warranty policies. In addition, National Warranty Insurance Co. had two reinsurance carriers in the last two years: Signet Star Reinsurance Co. of the Berkley Ins. Group of Greenwich, Ct. & American Safety Reinsurance Co. of Atlanta, Ga. So far none of the companies are coming forward to pay valid claims for warranty repair. Most consumers paid around $2000 for the extended warranty.

Dennis
Mill Valley, California
U.S.A.