This bill modifies recent legislation regulating insurance on portable electronic devices. This is insurance coverage that is typically offered in the store or online when a person buys a portable electronics product, such as a cell phone or other portable electronic device. A license to sell this type of insurance is called a "limited lines license."
Section 1, subdivision 1 clarifies the definition of "supervising agency," including changing the term's name to "supervising entity."
Subdivision 2 specifies the information required to be on an application for a limited lines license to sell portable electronics insurance.
Subdivision 3 makes technical changes.
Subdivision 4 makes changes relating to insurance sales training of employees of portable electronics vendors, including eliminating a requirement for in-person training, presumably to permit online training. The new paragraph (c) deals with the matter of how the vendor, customer, and insurance company may contact each other after the item is purchased.