NY S07706

Expands the definition of "wireless communications equipment" to include portable computers, tablets, and other similar portable wireless devices and accessories, in addition to existing coverage for wireless handsets, pagers, and personal digital assistants.

Broadens the scope of wireless communications equipment insurance to cover arrangements that provide substantially similar benefits through indirect means, including benefits conferred upon consumers who purchase or lease wireless communications equipment or wireless services, regardless of whether benefits are provided directly or indirectly.

Requires wireless communications equipment insurance to include a standardized disclosure statement showing the premium amount, term length in months, and fees payable to the administrator and/or vendor, which satisfies requirements to disclose price and producer compensation.

Maintains existing requirements that insurance must include disclosures that rental vehicle company, wireless communications equipment vendor, or self-storage company employees are not qualified to evaluate adequacy of existing coverage unless licensed, and that customers may cancel insurance at any time with refunds of unearned premiums.

Clarifies that wireless services and service contracts governed by article seventy-nine of the insurance law are excluded from coverage.