LAC 37:XI.1705. Definitions

A. When used in this rule, the following words or term have the meaning described in §1705. Commissioner―the Commissioner of Insurance for the state of Louisiana. Insurer―any property or casualty insurer duly authorized to transact vehicle physical damage insurance in this state under provisions of the Louisiana Insurance Code other than Sections 1800 through 1810. Vehicle Mechanical Breakdown Insurance Policy―any contract, agreement, or other instrument whereby a person other than the owner, seller, or lessor of a vehicle assumes the risk of and/or the expense portion thereof for the mechanical breakdown or mechanical failure of a motor vehicle and shall include those agreements commonly known as vehicle service agreements or extended warranty agreements. Vehicle Mechanical Breakdown Insurer―any person or organization, whether domestic, foreign or alien that issues or attempts to issue vehicle mechanical breakdown policies as defined herein.