1. An authorized insurer may deliver or issue for delivery in this State a policy of portable electronics insurance as a group or master inland marine policy issued to a vendor. A vendor may provide coverage for portable electronics under the policy to customers who elect to enroll under the policy. The policy may be offered on a month-to-month or other periodic basis. Notwithstanding the provisions of any law to the contrary, each rate for a policy of portable electronics insurance must be filed with the Commissioner pursuant to chapter 686B of NRS.
2. An insurer that issues a group policy of portable electronics insurance to a vendor shall:
(a) Establish reasonable eligibility and underwriting standards for customers who elect to enroll under the vendor’s policy of portable electronics insurance.
(b) Appoint a supervising entity to oversee the vendor’s sales and enrollment activities under the vendor’s policy of portable electronics insurance.
3. A supervising entity appointed pursuant to this section must develop and conduct a training program for the employees and authorized representatives of the vendor who sell or offer coverage under the vendor’s policy of portable electronics insurance. The training program must include, without limitation, basic instruction concerning:
(a) The coverage that is available to customers who enroll under the vendor’s policy of portable electronics insurance; and
(b) The disclosures required by NRS 691D.310.
4. The supervising entity may provide the basic instruction required by subsection 3 in electronic form if the supervising entity provides supplemental education that is conducted and overseen by a licensed employee of the supervising entity.
5. The supervising entity shall ensure that each employee and authorized representative of a vendor completes the training program required by subsection 3 before selling or offering to sell coverage under the vendor’s policy of portable electronics insurance.
(Added to NRS by 2011, 2024)