402-K:1 Definitions. – 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 […]
402-K:2 Licensure of Vendors. – I. A vendor shall hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance. II. A limited lines license issued under this chapter shall authorize any employee or authorized representative of the vendor to sell or offer coverage under a policy of […]
402-K:3 Marketing Requirements for Sale of Portable Electronics Insurance. – I. At every location where portable electronics insurance is offered to customers, brochures or other written materials shall be made available to a prospective customer which: (a) Disclose that portable electronics insurance may provide a duplication of coverage already provided by a customer’s homeowner’s […]
402-K:4 Authority of Vendors of Portable Electronics. – I. 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: (a) The vendor obtains a limited lines license to authorize its employees or […]
402-K:5 Suspension or Revocation of License. – If a vendor of portable electronics or its employee or authorized representative violates any provision of this chapter, the commissioner may: I. After notice and hearing, impose fines not to exceed $500 per violation or $5,000 in the aggregate for such conduct; II. After notice and hearing, […]
402-K:6 Termination of Portable Electronics Insurance. – Notwithstanding RSA 417-B, RSA 417-C, or any other provision of law: I. 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. II. If the […]
402-K:7 Application for License and Fees. – I. A sworn application for a license under this chapter shall be made to and filed with the commissioner on forms prescribed and furnished by the commissioner. II. The application shall provide: (a) The name, residence address, and other information required by the commissioner for an employee […]
