Delaware Code Title 18 Sec. 2052 – Licensure of vendors
(a) A vendor is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance.
Terms Used In Delaware Code Title 18 Sec. 2052
- Customer: means a person who purchases portable electronics or services. See Delaware Code Title 18 Sec. 2051
- Location: means any physical location in the State or any website, call center site or similar location directed to residents of the State. See Delaware Code Title 18 Sec. 2051
- Portable electronics: means electronic devices that are portable in nature, their accessories and services related to the use of the device. See Delaware Code Title 18 Sec. 2051
- Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any 1 or more of the following: loss, theft, inoperability due to mechanical failure, malfunction, damage, or other similar cause of need for repair or replacement. See Delaware Code Title 18 Sec. 2051
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Supervising entity: means a business entity that is a licensed insurer or insurance producer that is appointed by an insurer to supervise the administration of a portable electronics insurance program. See Delaware Code Title 18 Sec. 2051
- Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Delaware Code Title 18 Sec. 2051
(b) A limited lines license issued under this section shall authorize any employee or authorized representative of the vendor to sell or offer coverage under a policy of portable electronics insurance to a customer at each location at which the vendor engages in portable electronics transactions.
(c) The supervising entity shall maintain a registry of vendor locations which are authorized to sell or solicit portable electronics insurance coverage in this State. Upon request by the Commissioner and with 10 days’ notice to the supervising entity, the registry shall be open to inspection and examination by the Commissioner during regular business hours of the supervising entity.
(d) Notwithstanding any other provision of law, a license issued pursuant to this section shall authorize the licensee and its employees or authorized representatives to engage in those activities that are permitted in this section.