(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.Added by 2014 Ch. 204, § 2, eff. 1/1/2015.L. 2014: Entire part added, (HB 14-1199), ch. 204, p. 747, § 2, effective 1/1/2015.
Colorado Legal Code