Termination of portable electronics insurance

Checkout our iOS App for a better way to browser and research.

  • Notwithstanding the provision of law:
    • (1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the policyholder and enrolled customers with at least thirty (30) days’ notice, as provided below.

    • (2) If the insurer changes the terms and conditions, then the insurer shall provide the vendor policyholder with a revised policy or endorsement and each enrolled customer with a revised certificate, endorsement, updated brochure, or other evidence indicating a change in the terms and conditions has occurred and a summary of material changes.

    • (3) Notwithstanding paragraph 1 of this section, an insurer may terminate an enrolled customer’s enrollment under a portable electronics insurance policy upon fifteen (15) days’ notice for discovery of fraud material misrepresentation in obtaining coverage or in the presentation of a claim there under. Such notice may be provided as set forth below.

    • (4) Notwithstanding the paragraph 1 of this section, an insurer may immediately terminate an enrolled customer under a portable electronics insurance policy without prior notice:

      • (A) For nonpayment of premium:

      • (B) If the enrolled customer ceases to have an active service with the vendor of a portable electronics; or

      • (C) If an enrolled customer exhausts the aggregate limit of liability, if any, under the terms of the portable electronics insurance policy and the insurer sends notice of termination to the enrolled customer within thirty (30) calendar days after exhaustion of the limit. However, if notice is not timely sent, enrollment shall continue notwithstanding the aggregate limit of liability until the insurer sends notice of termination to the enrolled customer.

    • (5) Where a portable electronics insurance policy is terminated by a policyholder, the policyholder shall mail or deliver written notice to each enrolled customer advising the enrolled customer of the termination of the policy and the effective date of termination. The written notice shall be mailed or delivered to the enrolled customer at least thirty (30) days prior to the termination as provided below.

    • (6) Whenever notice or correspondence with respect to a policy of portable electronics insurance is required pursuant to this section or is otherwise required by law, it shall be in writing and sent within the notice period, if any, specified with the statute or regulation requiring the notice or correspondence. Notwithstanding any other provision of law, notices and correspondence may be sent either by mail or by electronic means as set forth in this subparagraph. If the notice or correspondence is mailed, it shall be sent to the vendor or portable electronics at the vendor’s mailing address specified for such purpose and to its affected enrolled customer’s last known mailing addresses on file with the insurer. The insurer or vendor of portable electronics, as the case may be, shall maintain proof of mailing in a form authorized or accepted by the United States Postal Service or other commercial mail delivery service. If the notice or correspondence is sent by electronic means, it shall be sent to the vendor of portable electronics at the vendor’s electronic mailing address specified for such purpose and to its affected enrolled customer’s last know electronic mailing address as provided by each enrolled customer to the insurer or vendor of portable electronics, as the case may be. For purposes of this subparagraph, enrolled customer’s provision of electronic mail address to the insurer or vendor of portable electronics, as the case may be, shall be deemed consent to receive notices and correspondence by electronic means. The insurer or vendor of portable electronics, as the case may be, shall maintain proof that the notice or correspondence was sent.

    • (7) Notice or correspondence required by this section or otherwise required by law may be sent on behalf of an insurer or vendor, as the case may be, by the supervising entity appointed by the insurer.


Download our app to see the most-to-date content.