Bill > S1325

This bill modifies existing law regarding portable electronics insurance by establishing clear guidelines for electronic document delivery, policy changes, and consumer notifications. The bill allows insurers to terminate or modify portable electronics insurance policies with specific notice requirements, including a mandatory 30-day notice for most policy changes and a 15-day notice if fraud is discovered. Insurers can immediately terminate an enrolled consumer's policy for reasons such as nonpayment of premium, loss of active service, or exhaustion of policy liability limits. The legislation also mandates that any required notices must be sent via written communication (including electronic mail) to the vendor and enrolled consumers' last known addresses, with insurers required to maintain proof of mailing. Additionally, if an electronic mail delivery appears unsuccessful or an email address becomes invalid, insurers must switch to alternative delivery methods. The bill specifically focuses on ensuring transparent communication between insurers, vendors, and consumers in the portable electronics insurance market, with provisions designed to protect consumer interests and ensure clear, timely information about policy changes or terminations. The new law will take effect 180 days after its enactment.

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https://www.njleg.state.nj.us/bill-search/2024/S1325