As used in this chapter:

“Commissioner”means the insurance commissioner.

“Consumer” means a person in this State who purchases or otherwise possesses a vehicle protection product.

“Department”means the department of commerce and consumer affairs.

“Reimbursement insurance policy” means a policy of insurance issued to a warrantor to:

(1) Provide reimbursement to the warrantor under the terms of the insured vehicle protection product issued or sold by the warrantor; and

(2) Pay on behalf of the warrantor, in the event of the warrantor’s nonperformance, all covered obligations incurred by the warrantor under the terms of the insured vehicle protection product issued or sold by the warrantor.

“Seller” means a person engaged in the business of offering a vehicle protection product for sale to a consumer.

“Vehicle identification number” means a serial number or identification mark of any vehicle established by the manufacturer for the purpose of identifying the vehicle.

“Vehicle protection product” means a product or system, which includes a written warranty, that is:

(1) Installed or applied to a vehicle; and

(2) Designed to prevent loss or damage to a vehicle from a specific cause.

“Warrantor” means a person named under the terms of a vehicle protection product warranty as the contractual obligor to the consumer.