(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. The brochures or other written materials shall do all of the following:
         (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, or other source of coverage;
        (2) 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;
        (3) summarize the material terms of the insurance
    
coverage, including:
            (A) the identity of the insurer;

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Illinois Compiled Statutes 215 ILCS 136/15

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14

             (B) the identity of the supervising entity;
             (C) the amount of any applicable deductible and
        
how it is to be paid;
            (D) benefits of the coverage; and
             (E) key terms and conditions of coverage, such as
        
whether portable electronics may be repaired or replaced with similar make and model reconditioned or nonoriginal manufacturer parts or equipment;
        (4) summarize the process for filing a claim,
    
including a description of how to return portable electronics and the maximum fee applicable in the event the enrolled customer fails to comply with any equipment return requirements; and
        (5) state that the 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 or credit of any applicable unearned premium.
    (a-5) Any refund or credit due to an enrolled customer shall be issued within 15 days after receipt of the refund by the vendor.
     (b) 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.
     (c) Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program.