My dealer offered this as well. It was hard to get any details at first, when pressed, and reading through the ultra fine print.....
Dealer pays premium to a third party insurer, must get all third party scheduled maintenance at THAT dealer (dealership requirement, not the insurer). Third party maint schedule was more rigorous than what's in the owners manual. Vehicle mods void warranty. Miss one schedule Maint and its void. Come in with a tire over factory size, void. If the computer shows it was ever flashed with an after market device, void. Does not cover a motor or trans that's simply worn out. Lifetime is not your lifetime, it's the projected lifetime of the motor or trans. List of exceptions was epic. IMHO, not a good deal for the consumer, great deal for the dealership as long as the owner tries to keep the warranty valid.