PureForge Secures Industry's First Insured Warranty on Patented Brake Rotor Products
AUG 8, 2012 - 12:56 ET
SAN DIEGO, CA--(Marketwire - August 8, 2012) - PureForge®, an innovative brake solutions company, today announces that it has successfully consummated an agreement with AmTrust Financial Services, a $6 billion dollar organization, to insure the product warranty on PureForge brake rotors. The program was designed, developed and brokered for PureForge by warranty specialists Critical Period Insurance Agency, Inc of San Diego, California.
The insurance will guarantee the replacement or repair of any covered PureForge brake rotor found to be defective in material or workmanship on municipal service vehicles (motorcycle, automotive or truck) under normal use, including replacement labor cost, under the terms and conditions of the warranty, on vehicles operating in the United States and Canada. The coverage will align itself with the term of PureForge's innovative Brakes as a Service (BaaS)™ Agreement up to a maximum of three years. The insured warranty coverage is effective on the date of the Brake Service Agreement.
PureForge installs and services brakes for police, government and commercial fleet vehicles in exchange for a monthly service fee. Unlike conventional brakes, which typically wear rapidly and require regular replacement, the patented and patent pending PureForge brakes are engineered utilizing their proprietary Atomic-Forged® process to outlast a vehicle while showing no measurable rotor wear. PureForge brakes stop significantly shorter, outlast, outperform, and create much less toxic brake dust than any other current fleet brake offering.
"The confidence AmTrust has placed in PureForge is a testament to the strength of our Atomic-Forged technology," said Douglas F. Wall, CEO of PureForge. "We have validated our technology with over 12 million miles of on-the-road testing and extensive independent laboratory testing, with no measurable wear reported. As far as we can determine, we are now the only company in the world that offers an insured warranty on vehicle brake rotors, normally excluded from traditional warranty coverage as a consumable item."
PureForge brakes are currently available for police motorcycle fleets, with police patrol car brakes coming this fall. The company's near-term product development pipeline also includes brakes for government and commercial cars and light truck fleet vehicles.
PureForge makes brakes for life. Applying its revolutionary, patented technology, PureForge brakes don't wear, stop shorter, maximize performance and safety, and minimize toxic brake dust. PureForge makes the world a healthier and safer place. Founded in 2006, PureForge is privately held and headquartered in San Diego. For more information, visit www.pureforge.com.
AmTrust Financial Services, Inc., headquartered in New York City, is a multinational insurance holding company, which, through its insurance carriers, offers specialty property and casualty insurance products, including workers' compensation, commercial automobile and general liability; extended service and warranty coverage. AmTrust Financial Services (AFSI) is traded on NASDAQ with a $1.8 Billion market cap and $6.1 Billion in assets. For more information about AmTrust, visit www.amtrustgroup.com.
About Critical Period Insurance Agency, Inc
CPIA is a national insurance managing general agency and risk management company with over 100 years of product development experience. Their successful initiatives have assisted manufacturers and distributors of solar, wind, power transmission, consumer, and high tech products in improving the marketability of their "new" products or services to increase market acceptance and to acquire new market share by improving warranty and extended warranty coverage and taking the warranty risk of balance sheet in the process. Please visit www.cpiainc.com.
PureForge and Atomic-Forged are registered trademarks of PureForge. The PureForge logo and Brakes as a Service (BaaS) are trademarks of PureForge. Other company and product names are trademarks of their respective owners.
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