17:22A-49 Definitions relative to portable electronics insurance.
As used in this act:
"Commissioner" means the Commissioner of Banking and Insurance.
"Consumer" means a person who purchases portable electronics or related services.
"Department" means the Department of Banking and Insurance.
"Enrolled consumer" means a consumer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics.
"Location" means any physical location in the State of New Jersey or any website, call center site, or similar location directed to residents of the State of New Jersey.
"Portable electronics" means electronic devices that are portable in nature, and accessories and services related to the use of the devices.
"Portable electronics insurance" means insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: loss; theft; inoperability due to mechanical failure; malfunction; damage; or other similar causes of loss.
"Portable electronics insurance" shall not include:
(1) A service contract or extended warranty providing coverage limited to the repair, replacement or maintenance of property for the operational or structural failure of property due to a defect in materials, workmanship, accidental damage from handling, power surges or normal wear and tear;
(2) A policy of insurance covering a seller's or a manufacturer's obligations under a warranty; or
(3) A homeowner's, renter's, private passenger automobile, commercial multi-peril, or similar policy of insurance.
"Portable electronics transaction" means:
(1) the sale or lease of portable electronics by a vendor to a consumer; or
(2) the sale of a service related to the use of portable electronics by a vendor to a consumer.
"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.
"Vendor" means a person engaged, directly or indirectly, in the business of portable electronics transactions.
L.2012, c.56, s.1.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.