MI SB1078

Insurers must provide vendors and enrolled customers with at least 30 days' notice before terminating or changing the terms and conditions of a portable electronics insurance policy, including a revised policy, endorsement, or certificate with a summary of material changes.

Insurers may terminate an enrolled customer's coverage after 15 days' notice if fraud or material misrepresentation is discovered in obtaining coverage or presenting a claim.

Insurers may immediately terminate an enrolled customer's coverage for nonpayment of premium, loss of active service with the device vendor, or exhaustion of the aggregate liability limit (with notice required within 30 days of exhaustion).

Vendor policyholders must provide written notice at least 30 days before terminating a portable electronics insurance policy, sent by mail or email to each enrolled customer's last known address on file.

All required notices must be in writing and may be sent by mail or electronic means, with proof of delivery maintained; supervising entities appointed by the insurer may send notices on the insurer's behalf.