20-1693. Definitions In this article, unless the context otherwise requires: 1. " Customer" means a person who purchases portable electronics or services. 2. " Enrolled customer" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. 3. " Location" means any physical location in this state […]
20-1693.01. Licensure of vendors A. The director may issue, and a vendor who intends to sell or offer insurance coverage under a portable electronics insurance policy is required to obtain, a limited lines license that authorizes the vendor to offer or sell insurance coverage under a portable electronics insurance policy. B. A limited lines license […]
20-1693.02. Portable electronics insurance; requirements; disclosures 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 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 […]
20-1693.03. Portable electronics vendors; authority; charges for portable electronics insurance; accounting 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 title or be subject to the continuing education requirements of this title if: 1. […]
20-1693.04. Suspension or revocation of license If a vendor or its employee or authorized representative violates any provision of this article, the director may impose penalties pursuant to section 20-295, including suspending the privilege of transacting portable electronics insurance pursuant to this article at the specific business location where violations have occurred.
20-1693.05. Termination of portable electronics insurance; notice; cancellation A. Notwithstanding any other law: 1. An insurer may terminate or otherwise change the terms and conditions of a portable electronics insurance policy only on providing the policyholder and enrolled customers with at least thirty days’ notice. 2. If the insurer changes the terms and conditions of […]
20-1693.06. Application of existing laws To the extent not inconsistent with this article, sections 20-281, 20-289 and 20-289.01, section 20-290, subsection A and sections 20-291, 20-292, 20-295, 20-296, 20-297, 20-299, 20-301 and 20-302 apply to the sale of portable electronics insurance.
