Sec. 13. Except as provided in section 14 of this chapter, a service contract reimbursement policy may not be offered, sold, or issued in Indiana unless the service contract reimbursement policy conspicuously states that the insurer will do either of the following: (1) Pay all sums that the provider is obligated to pay under service contracts issued by the provider and outstanding in Indiana. (2) In the event of the provider's nonperformance under a service contract issued by the provider and outstanding in Indiana, perform or pay for the performance of services that the provider: (A) is obligated to perform under the service contract; and (B) failed to perform.
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