Warrantech Corporation, a service contract and extended warranty provider, announced Jan. 17 that it has signed a five-year agreement with CRES Insurance Services, LLC, a provider of risk management programs and errors and omissions insurance for real estate agents.
Under terms of the agreement, CRES will provide a risk management package that offers protection for home buyers, sellers and real estate agents that will be included under the new Home Sellers Advantage Program. Additional benefits of the program include Disaster Mortgage Protection, Homeowners Deductible Reimbursement, Food Spoilage Protection, Hotel Expense Reimbursement and Job Loss Protection for the homebuyer.
"Our focused expansion into the real estate industry is expected to play a significant role in Warrantech Home's growth strategy," said Bill Barker, president of Warrantech Home Service Company. "The Home Sellers Advantage Program will be that vehicle, combining solid mechanical coverage with additional benefits that make this program an exceptional value. It signifies a dramatic leap from traditional home warranty programs and is expected to become one of the most comprehensive products available in the industry today."
CRES Insurance Services, established in 1996, is a provider of errors and omissions insurance programs and risk management services for the real estate industry, serving approximately 4,000 real estate offices and more than 50,000 real estate professionals in the United States. The company's clients include franchised real estate brokerages such as independent offices of Century 21, RE/MAX, ERA and Coldwell Banker. Based in San Diego, California, CRES is licensed in all 50 states and is a provider of E and O insurance in the country, underwriting more than 250,000 home transactions annually.
Warrantech's Home Sellers Advantage Plan initially will be offered in Georgia, Oklahoma, Texas and Utah, and subsequently expanded across 31 states to support market demand.
About Warrantech
Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers. The company continues to expand its domestic and global penetration, and now provides its services in the United States, Canada, Puerto Rico and Latin America. For additional information on Warrantech, access www.warrantech.com.
