This text of North Dakota § 26.1-26.7-03 (Requirements for sale of portable electronics insurance) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. At every location where portable electronics insurance is offered to customers, the
vendor shall make available to a prospective customer brochures or other written
materials that:
a. Disclose portable electronics insurance may provide a duplication of coverage
already provided by a customer's homeowner's insurance policy, renter's
insurance policy, or other source of coverage.
b. State the enrollment by the customer in a portable electronics insurance program
is not required in order to purchase or lease a portable electronic device or
services.
c. Summarize the material terms of the insurance coverage, including:
(1)The identity of the insurer;
(2)The amount of any applicable deductible and how the deductible is to be
paid;
(3)Benefits of the coverage; and
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1. At every location where portable electronics insurance is offered to customers, the
vendor shall make available to a prospective customer brochures or other written
materials that:
a. Disclose portable electronics insurance may provide a duplication of coverage
already provided by a customer's homeowner's insurance policy, renter's
insurance policy, or other source of coverage.
b. State the enrollment by the customer in a portable electronics insurance program
is not required in order to purchase or lease a portable electronic device or
services.
c. Summarize the material terms of the insurance coverage, including:
(1) The identity of the insurer;
(2) The amount of any applicable deductible and how the deductible is to be
paid;
(3) Benefits of the coverage; and
(4) Key terms and conditions of coverage, such as whether a portable
electronic device may be repaired or replaced with similar make and model
reconditioned or nonoriginal manufacturer parts or equipment.
d. Summarize the process for filing a claim, including a description of how to return
a portable electronic device and the maximum fee applicable in the event the
customer fails to comply with any equipment return requirements.
e. State 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.
2. The written materials required by this section are not subject to filing or approval
requirements with the commissioner.
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 electronic devices for the vendor's enrolled customers.
4. A policy of portable electronics insurance must provide primary coverage in the event
of a covered loss under more than one policy.
5. Eligibility and underwriting standards for customers electing to enroll in coverage must
be established for each portable electronics insurance program.