PORTABLE ELECTRONICS INSURANCE AGENTS: Requirements For Licensees and Endorsees
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 of $241 (effective 3/17/2014 this fee will be $265).At renewal, pay a renewal fee of $241 (effective 3/17/2014 this fee will be $265). 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.