Notwithstanding any other provision of law:
1. Except as otherwise provided in this section, an insurer that issues a policy of portable electronics insurance may not terminate the policy before the expiration of the agreed term of the policy unless, not less than 30 days before the effective date of the termination, the insurer provides notice to:
(a) The holder of the policy of portable electronics insurance; and
(b) If the policy is a group policy issued to a vendor under which individual customers may elect to enroll for coverage, each enrolled customer.
2. If the insurer changes a term or condition of a policy of portable electronics insurance, the insurer shall, not less than 30 days before the effective date of the change, provide:
(a) The policyholder with a revised policy or endorsement; and
(b) Each enrolled customer with a revised certificate of coverage, endorsement, brochure or other evidence of coverage which:
(1) Declares that the insurer has changed a term or condition of the policy which may affect the enrolled customer’s coverage; and
(2) Provides a summary of the material changes.
3. An insurer may terminate an enrolled customer’s coverage under a vendor’s policy of portable electronics insurance upon the discovery of fraud or material misrepresentation by the enrolled customer in obtaining the coverage or in presenting a claim thereunder if the insurer provides notice of the termination to the vendor and the enrolled customer within 10 days after discovery of the fraud or material misrepresentation.
4. An insurer may immediately terminate an enrolled customer’s coverage under a vendor’s policy of portable electronics insurance if the enrolled customer:
(a) Fails to pay a premium;
(b) Ceases to have an active service with the vendor; or
(c) Exhausts the aggregate limit of liability, if any, under the terms of the policy of portable electronics insurance and the insurer provides notice of termination to the customer within 30 calendar days after exhaustion of the limit. If the insurer fails to provide timely notice as required by this paragraph, the enrolled customer’s coverage under the policy continues until the insurer provides notice of termination to the enrolled customer notwithstanding the exhaustion of the aggregate limit of liability.
5. A vendor or other holder of a group policy of portable electronics insurance shall not terminate the policy unless, not less than 30 days before the effective date of the termination, the insurer provides notice to each enrolled customer of the termination of the policy and the effective date of termination. An insurer may authorize a vendor to provide notice to an enrolled customer on behalf of the insurer pursuant to this subsection.
6. Any notice that is required pursuant to this section must be in writing and be:
(a) Mailed or delivered to the enrolled customer, vendor or other policyholder at his or her last known address; or
(b) Sent by electronic mail or other electronic means in accordance with regulations adopted by the Commissioner to the enrolled customer, vendor or other policyholder at the electronic mail address of the enrolled customer, vendor or other policyholder last known by the insurer.
An insurer or vendor who provides notice pursuant to this subsection must maintain proof of mailing or delivery in a form authorized or accepted by the United States Postal Service or other commercial mail delivery service or an electronic record or other proof that the notice was sent.
(Added to NRS by 2011, 2026; A 2013, 1264)