Section 27-22A-1 Definitions. For purposes of this chapter, the following terms have the following meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance. (2) CUSTOMER. A person who purchases portable electronics or services. (3) DEPARTMENT. The Alabama Department of Insurance. (4) ENROLLED CUSTOMER. A customer who elects coverage under a portable electronics insurance policy issued to […]
Section 27-22A-2 Licensure of vendors. (a) A vendor is required to hold a limited lines insurance producer license to sell or offer coverage under a policy of portable electronics insurance. (b) A limited lines insurance producer license issued in accordance with this chapter shall authorize any employee or authorized representative of the vendor to sell […]
Section 27-22A-3 Requirements for sale of portable electronics insurance. (a) At every location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer which: (1) Disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer’s homeowner’s insurance policy, […]
Section 27-22A-4 Authority of vendors of portable electronics. (a) The employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers and shall not be subject to licensure as an insurance producer under this chapter provided that: (1) The vendor obtains a limited lines license to authorize its employees or authorized […]
Section 27-22A-5 Suspension or revocation of license. If a vendor of portable electronics or its employees or authorized representative violates any provision of this section, the commissioner, after opportunity for hearing, which hearing may be waived, may do any of the following: (1) Impose fines not to exceed five hundred dollars ($500) per violation or […]
Section 27-22A-6 Termination of portable electronics insurance. Notwithstanding any other provision of law: (1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the policyholder and enrolled customers with at least 30 days’ notice. (2) If the insurer changes the terms and conditions, […]
Section 27-22A-7 Application for license and fees. (a) A sworn application for a license under this chapter shall be made to and filed with the department on forms prescribed and furnished by the commissioner. (b) The application shall provide all of the following: (1) The name, residence address, and other information required by the commissioner […]
