10-4-1605. Required disclosures - reimbursement insurance policy

10-4-1605. Required disclosures - reimbursement insurance policy. (1) Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale must state that the reimbursement insurance company shall either: (a) Reimburse or pay on behalf of the provider any covered sums the provider is obligated to pay under the service contract; or (b) In the event of the provider's nonperformance, provide the service that the provider must perform according to the terms and conditions of the service contract.