Insurance Law 7904 — Legislation
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ARTICLE 79
Service Contracts
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SECTION 7905
Required disclosures; service contract
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SECTION 7904
Required disclosures; service contract reimbursement insurance policy
Insurance (ISC) CHAPTER 28, ARTICLE 79
§ 7904. Required disclosures; service contract reimbursement insurance
policy. Service contract reimbursement insurance policies insuring
service contracts issued, sold or offered for sale in this state shall
state that, upon failure of the provider to perform under the service
contract, including failure to return the unearned provider fee
thereunder, the insurer that issued the service contract reimbursement
insurance policy shall pay on behalf of the provider any sums the
provider is legally obligated to pay under the service contract or shall
perform the service which the provider is legally obligated to perform
according to the provider's contractual obligations under the service
contracts issued or sold by the provider.