At each location where a vendor offers portable electronicsinsurance to a customer, the vendor shall make available to a prospective customer written materials that:
Terms Used In Utah Code 31A-22-1807
Customer: means a person who purchases portable electronics. See Utah Code 31A-22-1802
Enrolled customer: means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. See Utah Code 31A-22-1802
Filed: means that a filing is:
(i)
submitted to the department as required by and in accordance with applicable statute, rule, or filing order;
(ii)
received by the department within the time period provided in applicable statute, rule, or filing order; and
(iii)
accompanied by the appropriate fee in accordance with:
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
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 a physical location in the state or a website, call center site, or similar location directed to residents of the state. See Utah Code 31A-22-1802
Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
an electronic device that is portable in nature; and
(b)
an accessory or service related to the use of the portable electronic device. See Utah Code 31A-22-1802
Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that provides coverage for portable electronics against any one or more of the following:
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Utah Code 31A-22-1802
(a)
disclose that portable electronics insurance may provide a duplication of coverage already provided by the customer’s homeowner’s insurance policy, renter’s insurance policy, private passenger motor vehicle 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;
(c)
summarize the material terms of the portable electronics insurance coverage, including:
(i)
the identity of the insurer;
(ii)
the identity of the supervising entity;
(iii)
the amount of any applicable deductible and how it is to be paid;
(iv)
benefits of the coverage; and
(v)
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)
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; and
(e)
state the cancellation rights under Subsection (2).
(2)
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.
(3)
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. Notwithstanding any other provision of law to the contrary, forms for portable electronics insurance shall be filed with the commissioner in accordance with Section 31A-21-201, and rates for portable electronics insurance shall be filed in accordance with Section 31A-19a-203.
(4)
Eligibility and underwriting standards for customers electing to enroll in coverage shall be filed with the department for each portable electronics insurance program.
(5)
A policy of portable electronics insurance shall provide primary coverage in the event of a covered loss under more than one policy.
