[Article 31]

portable electronics insurance


     [§431:31-101]  Definitions.  For purposes of this article:

     "Customer" means a person who purchases portable electronics or services.

     "Enrolled customer" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.

     "Location" means any physical location in the State or any website, call-center site, or similar location directed to residents of the State.

     "Portable electronics" means electronic devices that are portable in nature, and the accessories and services related to the use of the device.

     "Portable electronics insurance" means insurance providing coverage for the repair or replacement of portable electronics, which may provide coverage for portable electronics against any one or more of the following:  loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar causes.  The term does not include:

     (1)  A service contract, as defined by section 481X-2;

     (2)  A policy of insurance covering a seller's or manufacturer's obligations under a warranty; or

     (3)  A homeowner's, renter's, private passenger automobile, commercial multi-peril, or similar insurance policy.

     "Portable electronics transaction" means:

     (1)  The sale or lease of portable electronics by a vendor to a customer; or

     (2)  The sale of a service related to the use of portable electronics by a vendor to a customer.

     "Supervising entity" means a business entity that is a licensed insurer or insurance producer that is appointed or authorized by an insurer to supervise the administration of a portable electronics insurance program.

     "Vendor" means a person in the business of directly or indirectly engaging in portable electronics transactions. [L 2012, c 321, pt of §1]