New Hampshire Revised Statutes 402-K:3 – Marketing Requirements for Sale of Portable Electronics Insurance
Current as of: 2023 | Check for updates
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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:
(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.
(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.
(c) Summarize the material terms of the insurance coverage, including:
(1) The identity of the insurer;
(2) The identity of the supervising entity;
(3) The amount of any applicable deductible and how it is to be paid;
(4) Benefits of the coverage; and
(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.
(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.
(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.
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.
III. Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program in compliance with N.H. Rev. Stat. § 417:4, VIII(e) and N.H. Rev. Stat. § 417-B:2-a.
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.
(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.
Terms Used In New Hampshire Revised Statutes 402-K:3
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(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.
(c) Summarize the material terms of the insurance coverage, including:
(1) The identity of the insurer;
(2) The identity of the supervising entity;
(3) The amount of any applicable deductible and how it is to be paid;
(4) Benefits of the coverage; and
(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.
(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.
(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.
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.
III. Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program in compliance with N.H. Rev. Stat. § 417:4, VIII(e) and N.H. Rev. Stat. § 417-B:2-a.
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.