Notwithstanding any other provision of law:

1. 1. An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the policyholder and enrolled customers with at least thirty (30) days’ notice;
2. 2. If the insurer changes the terms and conditions of the policy, then the insurer shall provide the vendor policyholder with a revised policy or endorsement and each enrolled customer with a revised certificate, endorsement, updated brochure, or other evidence indicating a change in the terms and conditions has occurred and a summary of material changes;
3. 3. Notwithstanding paragraph 1 of this section, an insurer may terminate an enrolled customer’s enrollment under a portable electronics insurance policy upon fifteen (15) days’ notice for discovery of fraud or material misrepresentation in obtaining coverage or in the presentation of a claim thereunder;

4. 4. Notwithstanding paragraph 2 of this section, an insurer may immediately terminate an enrolled customer’s enrollment under a portable electronics insurance policy:

   1. a. for nonpayment of premium,
   2. b. if the enrolled customer ceases to have an active service with the vendor of portable electronics, or
   3. c. if an enrolled customer exhausts the aggregate limit of liability, if any, under the terms of the portable electronics insurance policy and the insurer sends notice of termination to the enrolled customer within thirty (30) calendar days after exhaustion of the limit. If notice is not timely sent, enrollment shall continue notwithstanding the aggregate limit of liability until the insurer sends notice of termination to the enrolled customer;
5. 5. When a portable electronics insurance policy is terminated by a policyholder, the policyholder shall mail or deliver written notice to each enrolled customer advising the enrolled customer of the termination of the policy and the effective date of termination. The written notice shall be mailed or delivered to the enrolled customer at least thirty (30) days prior to the termination; and
6. 6. Whenever notice is required pursuant to this section, it shall be in writing and may be mailed or delivered to the vendor of portable electronics at the vendor's mailing address and to its affected enrolled customers’ last known mailing addresses on file with the insurer. If notice is mailed, the insurer or vendor of portable electronics, as the case may be, shall maintain proof of mailing in a form authorized or accepted by the United States Postal Service or other commercial mail delivery service. Alternatively, an insurer or vendor policyholder may comply with any notice required by this section by providing electronic notice to a vendor or its affected enrolled customers, as the case may be, by electronic means. If notice is accomplished through electronic means the insurer or vendor of portable electronics, as the case may be, shall maintain proof that the notice was sent.

Laws 2011, SB 801, c. 93, § 6, eff. November 1, 2011.