What are the requirements of a service contract provider insuring service contracts under a reimbursement policy?
Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this state shall conspicuously state that the insurer that issued the policy shall either reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or in the event of the provider's nonperformance, shall provide the service that the provider is legally obligated to perform according to the provider's contractual obligations under the service contracts issued or sold by the provider, as according to §38-78-40.

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1. What is a service contract?
2. What is a warranty?
3. What is a provider?
4. Are the fees collected by the contract service provider subject to premium taxes?
5. What are the requirements of a service contract provider insuring service contracts under a reimbursement policy?
6. What are the requirements of a service contract provider insuring service contracts not covered under a reimbursement policy?
7. How long should a service contract provider preserve its records?
8. What are the procedures if a contract service provider cancels its reimbursement policy?
9. Is there a “free look” period in a service contract?
10. Is there any required language that must be disclosed in the service contracts?
11. Is a service contract an insurance policy?
12. Can a bank or lending institution require a borrower to purchase a service contract as a condition of a loan?