Montreal, Canada, February 29, 2008—FieldTurf Tarkett confirmed today that its aggregate limit per policy year on their prepaid warranty insurance policy has increased to US$10,000,000. The company is once again setting the standard in the industry for ultimate customer protection. The policy previously had a US$7 million limit annually and this US$3 million dollar increase further separates FieldTurf Tarkett from the competition when it comes to customer protection. With FieldTurf Tarkett’s industry-leading policy, there is no deductible, no limit per claim, no retention, and no retention period. All FieldTurf fields are automatically covered upon issuance of the Warranty Certificate.
In addition to the rock solid warranty policy that is rated A++ (Superior) and Category XV by A.M. Best – the highest rating available, FieldTurf Tarkett continues to earmark $500,000 in an ‘In Trust’ bank account to serve as a preliminary layer of protection which is exclusively for small warranty repairs – to cover any possible repair work needed on projects installed.
“This is a very significant financial milestone as this kind of security has never been equaled in this industry”, said Michel Levasseur, FieldTurf Tarkett CFO. “With the failures of artificial turf companies in the past, it should be comforting to clients that FieldTurf Tarkett is financially protected from catastrophic product failures and that our clients themselves are protected in the unlikely event FieldTurf ceases to be around to warrant its fields. Over thirty companies in the artificial turf industry have gone bankrupt in recent years, leaving their customers with no protection and worthless warranties. We go forward never looking back because we continue to set the bar and have invested in our security and that of our clients. We have secured this by paying out over $9 million in insurance premiums in the past 7 years alone”.
“All of the other turf companies buy an ‘off-the shelf’ product from suppliers who sell products which may or may not be what is best for the job,” stated FieldTurf Tarkett CEO David Moszkowski. “Like our engineering, our manufacturing and materials lead the way in quality, consistency and durability while our extensive testing makes sure that our products continue to perform as designed. No other manufacturer ensures such quality control.”
The emphasis on quality in every facet of the manufacturing, testing, and research processes is why FieldTurf Tarkett has never had to file a warranty insurance claim.