Tagged With "Insurance"

In my opinion, what the dealer was funded is not material. That is between the dealership and the leasing company. If it truly is insurance to cover just the device you either insure for the amount necessary to cover the debt should something happen which would be sum of payments plus the residual value or insurance to cover the replacement cost. However, most office equipment is covered under a blanket policy covering all building contents.

To be on the safe side, I always give my clients the MSRP on the equipment as the number they should provide to their insurance company.

txeagle seems you may have the best answer, just quote them MSRP and we should be safe. We just went through one of these where the copier was damaged by fire and was covered under the BOP policy. The insurance company paid the stream of payments plus the residual. I'm always somewhat concerned when I have to quote a price to the customer and then that customer uses that for the value of the equipment to the leasing company. If you sell at MSRP and the equipment is leased, then you need to...

If you sell at or above MSRP due to significant GP or because a buyout was involved, I would quote the Stream of Payments of the hardware + the buyout, excluding the portion of the monthly payment attributable to Service/Supplies in the case of a bundled lease/service agreement.

Tx, ty for this this. I don't bundle MA/Supplies. I just don't want my customer to get jammed in case there is a loss. We've had quite a few losses here in NJ with the storm from a few years ago. I'm just looking for the right thing to do for customers who opt out of the leasing companies insurance. I'm somewhat skeptical of giving them stream of payments plus residual, may open up a can of worms.

I've had the question come up a few times over the year and I simply give them full MSRP for the machine and all accessories as the amount.

Seriously? Which side are you on? Let's recognize that the dealer never pats for a lease return, it's just baked into the new lease. In this era of low margins, there is no room to offer these things for free. Additionally, there is no reputable dealer that would uplift 25% a year.

Cheryl Thanx for the response! I'm on the side of transparency. I want companies to recognize that there are some dealers that, well, they should not be doing business with. Here in the North East we're seeing some down right dirty tactics when it comes to moving product. You're right, no reputable dealer would uplift 25%, however we do have at leas one dealer that I know of that has the kind of uplift. Not sure what you meant here, can you clarify? "Let's recognize that the dealer never...

I didn't understand Cheryl's response either. Another important question is the length of the automatic renewal. At least the "renews for like term" seem to have gone away but I still see some 12 month renewals. In my opinion, a customer should never agree to Automatic Renewal Terms of more than 3 months with the 30 day renewal being the obvious best choice. For me, it's more about the integrity of the leasing company or the dealer pushing that particular lease company. Nobody plans on going...

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I received the below message via email yesterday. It's from Kevin Clune (President of Clune & Company LLC). I've known Kevin for years and appreciate his insight with leasing. Art, we haven’t talked in years but I still follow p4p. I liked your article about copier leasing but I thought I’d show you the attached marketing piece which shines a spotlight on some of the leasing industry’s most effective/injurious revenue enhancers. It’s a constantly evolving landscape as our industry is...

- Xerox nominated 11 directors to HP Inc’s board, the Wall Street Journal reported - Xerox is looking to gain control of HP to force acceptance of $33.5 billion takeover offer - Nominees include: o Betsy Atkins, CEO of Baja Corporation, a venture capital firm o George Bickerstaff, managing director of M.M. Dillon & Co., a leading healthcare and technology boutique investment bank o Carolyn Byrd, CEO of GlobalTech Financial o Jeannie Diefenderfer, CEO of consulting firm courageNpurpose o...

How much do I insure my leased copier for? Was a discussion I had with one of the sales rep in our office yesterday. From time to time, we will field calls from the clients asking how much to insure the leased copier for. The client then needs to submit that information to their insurance agent in order to produce a rider for the leasing company. Let me back up a moment. When a copier is leased, whether it's a dollar buy-out option or Fair Market Value, all of the leasing companies require...

Oakland-based startup Captricity Inc. , has announced a $35 million Series C round of financing led by White Mountains Insurance Group, LTD. to further develop its cloud-native Data-as-a-Service platform. This brings Captricity's total funding to $49 Million. Captricity works closely with clients in the insurance, government and non-profit sectors. Its proprietary technology “combines deep learning and human intelligence to convert complex handwritten forms into actionable data, providing...

The insurance industry and human resources departments share at least one thing in common: Both are data-heavy environments that include a number of time-consuming, manual workflows. Xerox has announced solutions to automate and simplify those processes. For insurance companies, it means faster claims and new business processing. HR departments can speed the management of employee paperwork and data such as tax forms, and policy and procedures administration. "The new offerings are the...

I recently had an email from a customer asking me for the purchase price for the leased equipment.  The customer needed this for the insurance certificate for the leasing company.   It's easy, we take the monthly price and divide by the rate...

When you signed your last copier lease, did you happen to take the time to read that lease? How about the maintenance agreement? If you're like most lessees, you probably skimmed over the verbiage on the lease and then signed the maintenance agreement without reading the T's & C's. Not reading those T's & C's could lead to some problems in the future, because there are clauses in those agreements that will increase your costs. 1) Maintenance included with the lease: Some leases have...

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Insuring Correct Information Arkansas-based title company, Community Title & Escrow, uses DocuWare to manage and store their vast database of property records. The solution allowed them to grow their business to 3 additional counties by giving employees shared access to one database of information. By reducing their turnaround time to under 48 hours, the company gained a huge competitive advantage. Secure document management also streamlined regulation compliance and the completion of...

HARTFORD, Conn., August 04, 2022 --( BUSINESS WIRE )-- Insurity , a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced its strategic partnership with MPX to streamline insurance interactions. MPX is a leading provider of cloud-based print and digital, outbound, and inbound communications solutions for property and casualty (P&C), workers’ compensation, and healthcare insurance carriers. The partnership will address all print and digital...

Cyber insurance is a must-have for businesses, but even more so for smaller, more vulnerable companies, according to MSP-focused software vendor N-Able. “I personally believe that insurance is super important, especially in small businesses because you don’t have all the resources … small and medium businesses—they are a priority for the bad guys,” Peter Capelluto, N-Able’s director of security, architecture and engineering, told an audience of MSPs at CRN parent The Channel Company’s...

HACKED! 11/9/2022 15,000 sites hacked for massive Google SEO poisoning campaign - Bleeping Computer .... . Hackers are conducting a massive black hat search engine optimization (SEO) campaign by compromising almost 15000 websites to redirect visitors to ... Hacked Australian Health Insurer Data Posted to Dark Web (1) - Bloomberg Law ...... Hacked Australian Health Insurer Data Posted to Dark Web (1). By Keira Wright. Nov. 8, 2022, 7:00 PM. Medibank Private has refused to pay a ransom ...