Wisconsin Statutes Insurance (Ch. 600 to 655) § 632.185. Vehicle protection product warranty insurance policy

(a) “Vehicle protection product” has the meaning given in s. 100.203(1)(e).

(b) “Warrantor” has the meaning given in s. 100.203(1)(f).

(c) “Warranty” has the meaning given in s. 100.203(1)(g).

(d) “Warranty holder” has the meaning given in s. 100.203(1)(h).

(e) “Warranty reimbursement insurance policy” has the meaning given in s. 100.203(1)(i).

(a) The policy is issued by an insurer authorized to do business in this state.

(b) The policy states that the issuer of the policy will reimburse or pay on behalf of the warrantor all covered sums that the warrantor is legally obligated to pay or will provide the service that the warrantor is legally obligated to perform according to the warrantor's contractual obligations under the provisions of the insured warranties sold by the warrantor.

(c) The policy states that if the warrantor does not provide payment due under the terms of the warranty within 60 days after the warranty holder has filed proof of loss according to the terms of the warranty, the warranty holder may file for a reimbursement directly with the issuer of the warranty reimbursement insurance policy.

(d) The policy provides that the issuer of the warranty reimbursement insurance policy has received payment of the premium if the warranty holder paid for the vehicle protection product covered under the insured warranty and that the insurer's liability under the policy may not be reduced or relieved by a failure of the warrantor to report to the insurer the issuance of a warranty.

(e) The policy contains the following provisions regarding cancellation: