The Insurance Commissioner of the State of New York requires entities who engage in the selling of Service Contracts within the State of New York to be licensed and provide a $50,000 Service Contract Provider's License Bond in favor of the People of the State of New York.

The surety bond guarantees the service provider will faithfully perform its service contract providers obligations to its service contrac holders in the State of NY in accordance with Section 7903(c) ofthe New York State Insurance Law.