As used in this article, unless the context requires a different meaning: “Covered customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. “Customer” means a person who purchases portable electronics or services. “Portable electronics” means electronic devices that are portable in nature, accessories to […]
A. A vendor is required to hold a limited lines property and casualty insurance agent license to sell or offer coverage under a policy of portable electronics insurance. B. On or before May 1, 2021, and biennially thereafter, each vendor licensed as a limited lines property and casualty insurance agent shall submit to the Commission […]
A. At every location where portable electronics insurance is offered to customers, the vendor shall make available to a prospective customer brochures or other written materials that: 1. Disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer’s homeowner’s insurance policy, renter’s insurance policy, or other source of coverage; […]
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 property and casualty insurance agent license; 2. The vendor selling the portable electronics insurance provides […]
If a vendor of portable electronics or its employee or authorized representative violates any provision of this article, the Commission may do any of the following: 1. After notice and hearing, impose fines and penalties in accordance with § 38.2-218; and 2. After notice and hearing, impose any such other penalties that the Commission deems […]
A. Except as otherwise provided in this article and except where the context otherwise requires, all of the provisions of this title apply to this article. B. Pursuant to the authority granted by § 38.2-223, the Commission may promulgate such rules and regulations as may be necessary or appropriate for the administration and enforcement of […]
