As used in this chapter, "service contract reimbursement policy" means a policy of insurance that provides coverage for one (1) of the following:

1. (1) All obligations and liabilities incurred by a provider under a service contract issued by the provider in Indiana.

2. (2) In the event of the provider's nonperformance under a service contract issued by the provider in Indiana, performance of all obligations:

   1. (A) of the provider under the service contract; and
   2. (B) that the provider did not perform.

As added by P.L.129-2014, SEC.10.