Proposed Regulations on the Sale of Portable Electronic Insurance PDF Print

For Immediate Release                            
No. 049-14

September 10, 2014

For More Information Contact:
Shawna K. Richards, Director of Communications
Ph:    (340) 773-6459 ext. 3129
Cell:    (340)642-4778
Fax:    (340)719-3801
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Proposed Regulations on the Sale of Portable Electronic Insurance

The Virgin Islands Division of Banking and Insurance is inviting the general public to review and comment on proposed rules and regulations for Act No. 7573, which mandates licensing of entities offering Portable Electronic Insurance.  This type of insurance protects a consumer’s investment in their wireless communications device by insuring it against loss, theft, damage, and internal malfunction of the device.  

The proposed rules and regulations support the implementation of Act. No. 7573, which provides for key consumer protections regarding the sale of Portable Electronic Insurance.  In an effort to facilitate the implementation of the Act, the Lieutenant Governor and the Director of Banking and Insurance have created the proposed rules to clarify and interpret the law.

Comments can be submitted to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it The comment period ends on Friday, October 10, 2014.

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Click here to read the proposed rules and regulations. 

 
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