Arizona Laws 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:
Terms Used In Arizona Laws 20-1693.02
- Customer: means a person who purchases portable electronics or services. See Arizona Laws 20-1693
- Enrolled customer: means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. See Arizona Laws 20-1693
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- 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
- Location: means any physical location in this state or any website, call center site or similar location directed to residents of this state. See Arizona Laws 20-1693
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Portable electronics: means personal, self-contained, easily carried by an individual, battery-operated electronic communication, viewing, listening, recording, gaming, computing or global positioning devices, including cell or satellite phones, pagers, personal global positioning satellite units, portable computers, portable audio listening devices, video viewing or recording devices, digital cameras, video camcorders, portable gaming systems, docking stations, automatic answering devices and other similar devices and the devices' accessories. See Arizona Laws 20-1693
- Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
- Supervising entity: means a business entity that is a licensed insurer or insurance producer and that is authorized by an insurer to supervise the administration of a portable electronics insurance policy. See Arizona Laws 20-1693
- Vendor: means a business in the business of engaging in portable electronics transactions directly or indirectly. See Arizona Laws 20-1693
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 policy 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.
(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.
(e) Key terms and conditions of the coverage, including 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 customer fails to comply with any equipment return requirements.
5. 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 or credit of any applicable unearned premium.
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.