RSA 402-K:3 · Marketing Requirements for Sale of Portable Electronics Insurance

402-K:3 Marketing Requirements for Sale of Portable Electronics Insurance. –

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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:

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(a)

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, motor vehicle insurance policy, or other source of coverage.

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(b)

State that the enrollment by the customer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services.

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(c)

Summarize the material terms of the insurance coverage, including:

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(1)

The identity of the insurer;

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(2)

The identity of the supervising entity;

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(3)

The amount of any applicable deductible and how it is to be paid;

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(4)

Benefits of the coverage; and

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(5)

Key terms and conditions of coverage such as whether portable electronics may be repaired or replaced with similar make and model reconditioned or non-original manufacturer parts or equipment.

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(d)

Provide a toll-free number and a summary of the process for filing a claim, including a description of how to return portable electronics and the maximum fee applicable in the event the customer fails to comply with any equipment return requirements.

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(e)

State that an enrolled customer may cancel enrollment for coverage under a portable electronics insurance policy at any time and the person paying the premium shall receive a refund of any applicable unearned premium.

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II.

Portable electronics insurance may be offered on a month-to-month or other periodic basis as a group or master commercial inland marine policy issued to a vendor of portable electronics for its enrolled customers.

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III.

Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program in compliance with RSA 417:4, VIII(e) and RSA 417-B:2-a.

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IV.

A certificate, endorsement, brochure, or other evidence setting forth the terms and conditions of the portable electronics insurance policy shall be provided to each enrolled customer. Source. 2012, 290:1, eff. Sept. 15, 2012.

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