Oklahoma § 36-6672 - Portable electronics insurance - Required brochure

§ 36-6672. Portable electronics insurance - Required brochure

contents.

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:

a.

the identity of the insurer,

b.

the identity of the supervising entity,

c.

the amount of any applicable deductible and how it is

to be paid,

d.

benefits of the coverage, and

e.

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 enrolled customer fails to comply

with any equipment return requirements; and

5. State that the 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 or credit

of any applicable unearned premium refund.

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.

Oklahoma Statutes - Title 36. Insurance

C. Eligibility and underwriting standards for customers

electing to enroll in coverage shall be established for each

portable electronics insurance program.

Added by Laws 2011, c. 93, § 3, eff. Nov. 1, 2011. Amended by Laws

2012, c. 147, § 3, eff. Nov. 1, 2012.