Section 27-2.7-3 - Requirements for sale of portable electronics insurance(a) At every location where portable electronics insurance is offered to customers, brochures or other written materials must be made available to a prospective customer which: (1) Disclose that 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;(2) State that the enrollment by the customer in a portable electronics insurance program is not required in order to purchase or lease portable electronics or services;(3) Summarize the material terms of the 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.(4) 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(5) State that 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.(b) 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.(c) Eligibility and underwriting standards for customers electing to enroll in coverage shall be established for each portable electronics insurance program.R.I. Gen. Laws § 27-2.7-3
P.L. 2012, ch. 136, § 1; P.L. 2012, ch. 247, § 1.