A. Except as otherwise provided in this section, a provider shall not include in the name of his business:
(1) the words "insurance", "casualty", "surety", "mutual" or any other word or term that implies that he is engaged in the business of transacting insurance or is a surety company; or
(2) a name that is deceptively similar to the name or description of an insurer or surety company or the name of another provider.
B. A provider may include the word "guaranty" or a similar word in the name of his business.
C. This section does not apply to a provider who, before January 1, 2002, includes in the name of his business a name that does not comply with the provisions of Subsection A of this section. Such a provider shall include in each service contract he issues, sells or offers for sale a statement that the service contract is not a contract of insurance.