Termination of reimbursement insurance policy
An insurer that issues a reimbursement insurance policy shall not terminate the policy until a notice of termination has been mailed or delivered to the Director of the Department of Consumer and Business Services. The notice of termination shall be mailed or delivered to the director at least 30 days prior to the date of termination. The termination of a reimbursement insurance policy shall not reduce the issuer’s responsibility for service contracts sold by or on behalf of obligors prior to the date of the termination. [1995 c.801 §8]
Note: See note under 742.390 (Reimbursement insurance policy).
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