Background
On behalf of Best Buy Company, Frost Brown Todd’s insurance team collaborated with Best Buy, Apple, Inc. and Assurant to gain regulatory approval in all applicable jurisdictions for the AppleCare+ with Theft and Loss protection plan. This approval came just in time to meet Best Buy’s critical nationwide launch date for sale at its retail stores and online. The rollout of the new AppleCare+ with Theft and Loss protection plan provides consumers with the additional coverage options to protect their Apple iPhones from screen damage and other accidental damage, along with a replacement option in the event the iPhone is lost or stolen.
The Terms and Conditions for the protection plans had to be reviewed and approved in multiple jurisdictions prior to use. Additionally, some states require the Training Program presented to Best Buy employees encompassing the sale of the protection plan to meet specific criteria, which is also reviewed for regulatory approval in certain jurisdictions.
Client Benefit
Frost Brown Todd’s relationships with state regulators proved instrumental in obtaining timely regulatory approvals to meet the required deadlines. As a result, Best Buy was able to implement the new protection plan ahead of the anticipated September 20, 2019 launch date of the new Apple iPhone 11. For further information, please contact Greg Mitchell or Jay Holley.