The U.S. branch of Italy’s Generali Group has launched a Specialty Insurance Division, which will focus on providing warranty products and services.
Generali U.S. Branch said the division will provide both insurance and obligor services for warranty programs worldwide.
Specifically, the division will partner with consumer retailers and dealers, third-party administrators, and other consumer-facing entities to provide tailored warranty services for consumer products. The idea is that Generali’s multinational and domestic capabilities will allow the new warranty service line to support a variety of warranty program structures including insurer as obligor programs, administrator obligor programs, direct insurer programs and dealer obligor programs.
The financial backing from Generali proper will allow the Specialty Insurance Division to offer warranty services for a wide array of products including motor vehicles, watercraft, travel trailers, new homes, home systems, major appliances, televisions, consumer electronics, as well as computers and other peripherals.
Jose Luis Menéndez, executive vice president and chief insurance officer, Generali U.S. Branch, said in prepared remarks that the new division will provide specialized offerings in the U.S. and internationally.
Menéndez added that Generali’s Specialty Insurance arm will be expanded over time.