MO HB58

Vendors selling portable electronics insurance must provide brochures and actual policies or certificates of coverage disclosing that insurance may duplicate existing homeowner's or renter's coverage and that portable electronics insurance is primary coverage.

Insurance policies or certificates issued after January 1, 2015 must contain a disclosure that portable electronics insurance is primary coverage and must be made available at point of sale or delivered within sixty days of enrollment.

Supervising business entities must develop training programs for vendor employees on portable electronics insurance products and required disclosures, which may be delivered electronically if supplemented by in-person education from licensed supervising entity employees.

Supervising business entities must maintain a registry of authorized vendor locations, update it within thirty days of vendor terminations, and share complaints or inquiries with insurers regarding vendor compliance with state laws.

Vendors may bill and collect insurance charges separately itemized on customer bills, with all collected funds held in trust for the insurer and remitted to the supervising business entity within forty-five days; vendor records must be maintained for three years.