More good news this week as the Office of Fair Trading announce stage 1 approval for the Motor Industry Code of Practice for Vehicle Warranty Products, another feather in the Motor Codes cap.
The vehicle warranty market is a complex business and through working with the warranty product administrators we have developed an excellent Code that takes the complexities out of the consumer information it provides.
We have been working on the refresh of this Code for for quite some time now, but we've had to hold back on it's relaunch a couple of times to edit it to reflect changes in the regulation of general insurance which caused some significant impact upon the automotive sector when introduced by the FSA.
So, a little longer in development than we would have liked, but as good luck would have it the timing is quite impeccable with the VWP Code as it's becoming known, fitting nicely into the Motor Codes suite of industry self regulation alongside the New Car and Service and Repair Codes - more consumer protection, more motor industry operators willing to sign up to demonstrate their commitment to open and honest working practices. Can't say fairer than that...
OFT press release
http://www.oft.gov.uk/news/press/2009/64-091
Motor Codes press release
http://service.motorindustrycodes.co.uk/consumers/latest-news.html
All the best
Chris
The vehicle warranty market is a complex business and through working with the warranty product administrators we have developed an excellent Code that takes the complexities out of the consumer information it provides.
We have been working on the refresh of this Code for for quite some time now, but we've had to hold back on it's relaunch a couple of times to edit it to reflect changes in the regulation of general insurance which caused some significant impact upon the automotive sector when introduced by the FSA.
So, a little longer in development than we would have liked, but as good luck would have it the timing is quite impeccable with the VWP Code as it's becoming known, fitting nicely into the Motor Codes suite of industry self regulation alongside the New Car and Service and Repair Codes - more consumer protection, more motor industry operators willing to sign up to demonstrate their commitment to open and honest working practices. Can't say fairer than that...
OFT press release
http://www.oft.gov.uk/news/press/2009/64-091
Motor Codes press release
http://service.motorindustrycodes.co.uk/consumers/latest-news.html
All the best
Chris
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