Portable Electronics Vendor
- A vendor may not issue, sell, or offer for sale insurance coverage for
portable electronics (cell phones, tablets, etc.) unless the vendor has
been issued a limited license by the Oregon Insurance Division.
- This limited license is only available to a business entity that sells
portable electronics devices.
The license will be issued for two years and will expire on the last day
of the same month in which the license is issued. The license class on the
license will be listed as "portable electronics vendor." The initial
cost of a license is $200.
All license and renewal applications are to be submitted through
Oregon law requires that written materials concerning the portable electronics
insurance coverage is made available to prospective customers. The material
must disclose the following information:
- That portable electronics insurance coverage may duplicate
coverage already held by the customer, including homeowners insurance
or renters insurance.
- That issuance of portable electronics insurance coverage is not required
for the customer to purchase or lease portable electronics.
- The material terms of coverage, including:
- The identity of and contact information for the insurer or the supervising
entity that issued the insurance policy to the vendor policyholder.
- The amount of any applicable deductible and how the deductible is
required to be paid when a claim is made.
- The benefits of coverage.
- Whether the covered portable electronics will be repaired or replaced
with a similar make and model; with a new or reconditioned device, accessory,
or part; or with a device, accessory, or part from other than the original
- The process and requirements for returning portable electronics, and
any fees that will apply in the event the enrolled customer does not comply
with the process and requirements.
- That the enrolled customer may cancel the portable electronics insurance
coverage at any time and that the person paying the premium shall receive
a refund of the unused portion of any amount that has been paid for coverage.
A reasonable administrative fee of up to 10 percent of the refund due may
The employee training syllabus must also be filed with the Insurance Division
with the application.
A vendor licensed under this section must annually update the Insurance
Division with its contact information.
The update must include the following:
- The name and street address of an employee, agent, or authorized representative
the vendor designates as being responsible for the vendor's compliance
with the requirements of the license.
- The name and address in Oregon of a person the vendor designates as
the vendor's agent upon whom may be served, in the manner described
59.155, at any time any process, notice, or demand in a civil proceeding
brought in connection with portable electronics insurance coverage.
This includes a proceeding brought by the director of the Department
of Consumer and Business Services.