Complaint Review: Ultimate Warranty Corp

I learned from my local ford dealership in minnesota that UWC (Ultimate Warranty Corp.) is no longer paying claims as of sometime last July 2007. I was in for a repair on 7/2/07, and the dealership got the pre-approval needed from UWC to perform the work. When the work was done, they could not get a hold of UWC to collect payment which is normally done over the phone with a credit card. I found out in January 2008 about this when I received an outstanding bill from my ford dealership. I was stunned. The dealership explained what was going on, and said they got a report that the state of south carolina has put a hold on their funds and is not allowing UWC to pay any claims or start any new claims. The reason it's South Carolina is that UWC was part of some Capital Assurance Risk Retention Group based there.

Check this out: "The Receiver with assistance from the South Carolina Department of Insurance is now managing all of the affairs of the receivership estate of CARRG and is implementing a plan to pay the claims against this estate in the most cost-effective means possible over the next 10 years until the expiration of the last underlying warranty contract."

So, maybe I'll get my money sometime in the next 10 years. I guess I won't hold my breath.
What I don't understand, is how they can just abandon a warranty repair claim that was already pre-approved by UWC and in the process of being repaired.

Well, good luck to all who are involved!

Eric
coon rapids, Minnesota
U.S.A.