Requirements For Employers and Employees
License Requirements For Licensees
- Maintain and update, annually, a list of all locations in California for which the licensee offers coverage under a policy of portable electronics insurance on Form LIC PE 2.
- Establish and update, when appropriate, training materials. Training materials must include instruction about the types of insurance that may be offered for sale; instruction on ethical sales practices; and instruction on the required disclosures to be given to perspective customers.
- Re-training of endorsees at least every three years and whenever there is a material change in the insurance products sold that requires modification of the training materials.
- Renew license every two years.
- Pay initial license fee of $265 (effective March 1, 2015 this fee will be $292). At renewal, pay a renewal fee of $265 (effective March 1, 2015 this fee will be $292). A renewal of an expired license may be filed after the expiration date and until the same month and date of the next succeeding year. There is a 50 percent penalty fee if the license is renewed late.
- Provide training to employees who are to be endorsed to the license.
License Requirements For Endorsees
- Must be 18 years of age or older.
- Complete mandatory training.
Reference: Sections 1758.6-1758.692 of the CIC