Kentucky regulators have released a new license application that will allow retailers and insurance agents for the first time to sell insurance to cover the portable electronic devices such as laptop computers, cellphones, and mp-3 players.
The license application requires that the person overseeing the insurance products be a licensed agent or business entity that offers and sells portable electronic devices. The supervisor must maintain a record of each place where the insurance is sold and to make the records available to regulators.
Under the law, retailers can obtain a blanket license for multiple stores throughout the state. The cost of the license is $100 for one to 20 separate locations to $2,500 for 21 or more locations in the state.
The law includes several consumer protection measures.
Was this article valuable?
Here are more articles you may enjoy.
Upstate New York Agent Pleads Guilty to Stealing More Than $50M From Neighbors 
Study Suggests Federal Action to Realize Insurance Savings 
Most Are Overcharged for Property Insurance, Vanderbilt Study Says 
Progressive Insurance Helps First-Time Homebuyers With Down Payments From This Issue
