Frequently Asked Questions
- When will online Portable Electronics application be available?
NIPR will have PE application available as of 6/14/2013 and Sircon (Vertafore) will offer PE application as of 7/1/2013.
- When is the vendor required to be licensed?
If the vendor is engaging in portable electronics insurance transactions prior to July 1, 2013, they will have 90 days after the application is made available to apply. If the vendor begins engaging in such transactions after July 1, 2013, they must be licensed prior to transacting business.
- Does the vendor need to provide a list of locations to the DOI?
No. The vendor must maintain a registry of authorized locations and provide such list if requested by the DOI.
- Is Idaho reciprocal?
Yes. Non-residents will be licensed based on reciprocity with entity’s home state license.
- What if the home state doesn’t license for Portable Electronics?
If the home state doesn’t license for Portable Electronics by July, 2014, the vendor will be required to obtain an Idaho Property and Casualty Producers license in addition to the Portable Electronics license. Failing to do so will result in cancellation of the Idaho Portable Electronics license.
- How must compensation be paid?
Compensation is paid directly to the vendor.
- Can individuals hold a Portable Electronics Limited Lines Producer License?
No, Idaho only issues Portable Electronics Limited Lines licenses to business entities. Employees of a licensed entity are covered under the entity license.
- Do individuals processing automated Portable Electronics insurance claims need to be licensed as adjusters in Idaho?
No, not if they are using an automated claims adjudication system.
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