Regulates service contracts and protection product guarantees in Washington, requiring financial responsibility and consumer protections.

The bill regulates service contracts and protection product guarantees in Washington. It mandates that service contract providers and protection product guarantee providers demonstrate financial responsibility or assure faithful performance. Providers must insure their obligations under a reimbursement insurance policy or maintain a net worth of at least $100 million. Service contracts must include specific disclosures, such as the provider's obligations, claim procedures, and return policies.

Regulates service contracts and protection product guarantees in Washington, requiring financial responsibility and consumer protections.

The bill regulates service contracts and protection product guarantees in Washington. It mandates that service contract providers and protection product guarantee providers demonstrate financial responsibility or assure faithful performance. Providers must insure their obligations under a reimbursement insurance policy or maintain a net worth of at least $100 million. Service contracts must include specific disclosures, such as the provider's obligations, claim procedures, and return policies.