No. CS/SB 772
Filed under Insurance.
Limited Licenses for Portable Electronics or Eyewear Insurance; Renaming “portable electronics insurance” as “portable electronics or eyewear insurance” to include eyewear for purposes of insurance coverage and licenses; defining the term “eyewear”; revising the definition of the term “portable electronics”, etc.
Plain English Summary
AI-GENERATEDRetailers selling smart glasses or prescription eyeglasses can now sell insurance on those items under a limited license, without needing a full general lines agent license.
The bill explicitly states that a single license covers both portable electronics and eyewear, so a retailer does not need two separate licenses to sell insurance on both product types.
The definition of "portable electronics" is broadened to include devices with wireless, magnetic, or environmental-sensing capabilities, expanding the range of devices covered by the existing license.
Retailers must provide written disclosures to customers, including a statement that the insurance may duplicate coverage already held under a homeowner's or renter's policy.
AIAllows limited license holders to sell eyewear insurance alongside portable electronics insurance.
AIDefines eyewear to include smart glasses and nonelectronic eyewear, including prescription and nonprescription eyeglasses and sunglasses.
AIBroadens the definition of portable electronics to include equipment with electrical, digital, or wireless capabilities operating on batteries or other energy sources.
AIClarifies that a single license covers both portable electronics and eyewear insurance, prohibiting the requirement of two separate licenses.
AIUpdates examination, knowledge, and claims handling exemptions to include eyewear insurance alongside portable electronics insurance.