In this chapter:
I. "
Commissioner
" means the insurance commissioner.
II. "
Customer
" means a person who purchases portable electronics or services.
III. "
Enrolled customer
" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.
IV. "
Location
" means any physical location in the state of New Hampshire or any Internet website, call center site, or similar location directed to residents of the state of New Hampshire.
V. "
Portable electronics
" means electronic devices that are portable in nature, their accessories and services related to the use of the device.
VI. "
Portable electronics insurance
" means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes of loss. "Portable electronics insurance" does not include:
(a) A service contract governed by RSA 415-C;
(b) A service contract or extended warranty providing coverage limited to the repair, replacement, or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling, power surges, or normal wear and tear;
(c) A policy of insurance covering a seller’s or a manufacturer’s obligations under a warranty; or
(d) A homeowner’s, renter’s, motor vehicle, commercial multi-peril, or similar policy.
VII. "
Portable electronics transaction
" means:
(a) The sale or lease of portable electronics by a vendor to a customer; or
(b) The sale of a service related to the use of portable electronics by a vendor to a customer.
VIII. "
Supervising entity
" means a business entity that is a licensed insurer or insurance producer that is appointed or authorized by an insurer to supervise the administration of a portable electronics insurance program.
IX. "
Vendor
" means a person in the business of engaging in portable electronics transactions directly or indirectly.
Source. 2012, 290:1, eff. Sept. 15, 2012.