entities acting in concert.
"Premium." The consideration paid to an insurer for a
reimbursement insurance policy.
"Provider." A person that is contractually obligated to the
contractholder under the terms of the service contract.
"Provider fee." The consideration paid for a service
contract.
"Reimbursement insurance policy." A policy of insurance
issued to a provider to either provide reimbursement to the
provider under the terms of the insured service contracts issued
or sold by the provider or, in the event of the provider's
nonperformance, to pay on behalf of the provider all covered
contractual obligations incurred by the provider under the terms
of the insured service contracts issued or sold by the provider.
"Service contract." A contract or agreement for a separately
stated consideration for a specific duration to perform the
repair, replacement or maintenance of property or
indemnification for repair, replacement or maintenance, for the
operational or structural failure of any motor vehicle or
residential or other property due to a defect in materials,
workmanship, inherent defect or normal wear and tear, with or
without additional provisions for incidental payment of
indemnity under limited circumstances, including, but not
limited to, towing, rental and emergency road service and road
hazard protection. The term includes contracts that provide for
the repair, replacement or maintenance of property for damage
resulting from power surges or interruption and accidental
damage from handling. The term also includes a contract or
agreement sold for a separately stated consideration for a
specific duration that provides for any of the following:
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