As used in this part 15, unless the context otherwise requires: “Customer” means a person who purchases portable electronics or services. “Enrolled customer” means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. “Insurer” means any admitted company or authorized company, as defined in section 10-1-102 […]
A vendor shall hold a limited lines producer license issued by the division in accordance with part 4 of article 2 of this title in order to sell or offer coverage under a policy of portable electronics insurance. A limited lines producer license issued for the purposes of this part 15 authorizes an employee or […]
At every location where portable electronics insurance is offered to customers, the vendor shall make brochures or other written materials available to a prospective customer that: 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; State that […]
The employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers and are not subject to licensure as an insurance producer under this title if: The vendor obtains a limited lines producer license to authorize its employees or authorized representatives to sell or offer portable electronics insurance pursuant to this […]
If a vendor of portable electronics or its employee or authorized representative violates this part 15, the commissioner may take disciplinary action against the vendor in accordance with part 8 of article 2 of this title. A fine imposed as disciplinary action shall not exceed five thousand dollars in the aggregate for multiple violations arising […]
Notwithstanding any other provision of law: Except as specified in subparagraphs (II) and (III) of this paragraph (a), an insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the vendor and enrolled customers with at least thirty days’ notice. An insurer may terminate an […]
An applicant for a license under this part 15 shall apply for a license in accordance with section 10-2-404; except that, in lieu of providing information for all officers, partners, and directors as required by section 10-2-404 (2), the required information to be submitted for a license pursuant to this part 15 is limited to […]
