Legislation Endorsed by MVPPA Creates Regulatory Certainty in Puerto Rico
SAN JUAN, PUERTO RICO – October 1, 2020 – (GLOBE NEWSWIRE – LATINX NEWSWIRE) – Recently passed legislation in Puerto Rico offers additional regulatory certainty. The legislation updates existing language to define “vehicle protection products” and how they are regulated under federal law. The law requires manufacturers and sellers of consumer products to provide consumers with detailed information about warranty coverage before and after the sale of a warranted product.
“Our association continues to push for legislation that protects consumers and their purchases. We are proud to be a part of legislation that moves our industry forward and helps educate others,” said Tim Meenan, executive director of MVPPA. “We applaud the lawmakers who helped move this legislation forward. By working closely with government officials, MVPPA can ensure those who need it can depend on their service contract.”
This new law also defines incidental costs and additional vehicle protection coverage to provide clarity to consumers during the purchasing process.
The Motor Vehicle Protection Products Association (MVPPA) works to authorize the sale of stand-alone vehicle protection products and pass legislation throughout the U.S. It is a trade association for providers, sellers, and underwriters of motor vehicle protection products. Learn more at www.mvppa.org.