ID S1049

Insurers must provide policyholders and enrolled customers at least 30 days' notice before terminating or changing terms and conditions of portable electronics insurance policies.

When terms and conditions change, insurers must provide vendors with revised policies and customers with revised certificates or endorsements along with a summary of material changes, and customers may reject changes or cancel with a pro rata refund of unearned premiums within 60 days.

Insurers may immediately terminate an enrolled customer's coverage for nonpayment of premium, loss of active service with the vendor, or exhaustion of aggregate liability limits (with 30-day notice requirement for the latter).

Policyholders terminating coverage must provide enrolled customers with written notice at least 30 days prior to termination, with unearned premiums returned within 60 days.

Notices and correspondence may be sent by mail or electronic means if the customer consents, with proof of mailing or electronic transmission required to be maintained by the insurer or vendor.