Our extended warranty company 1SourceAutoWarrantee (reinsurer is Primeguard) went insolvent. We are looking for members for a class action suit and to discuss ways of trying to recoup our losses. I started a Yahoo group. If you can help or have been burned, post to snipped-for-privacy@yahoogroups.com. To join or view previous messages go to
I wish you and others taken in by the 1 Source group well in your pursuit of damages. I would think that the liability of Primeguard would be limited to them performing on the portion of the warranty contracts that they purchased or reinsured.
If you can get an attorney to take this on a contingency basis then go for it. Otherwise please balance the cost of retaining counsel against the possible recovery which could very well be only a few cents on the dollar.
Nothing at all unusual about this. Perhaps the money went up the noses of the CEOs or they actually paid a few claims -- something they usually make every effort not to do and an effort at which they are normally succesful.
Good luck, you are going to need it.
Since its probably a lost cause collecting from this particular group of scumbags, you might be best advised to focus your Yahoo group on warning others not to throw away their money as you did.
Don
snipped-for-privacy@yahoogroups.com. To
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