AK SB115

Defines "portable electronics insurance" as coverage for loss, theft, mechanical failure, damage, or replacement of small electronic devices like cell phones, laptops, and GPS devices sold by vendors.

Authorizes the director of insurance to issue a limited producer license to vendors selling portable electronics insurance, allowing employees or authorized representatives to transact such insurance without obtaining individual producer licenses.

Requires insurers offering portable electronics insurance to provide customers with written disclosures including policy terms, premium amounts, deductibles, coverage limitations, claim procedures, and notice that insurance is optional and may duplicate existing homeowner or renter coverage.

Allows vendors to collect premiums for portable electronics insurance and hold them in a fiduciary capacity, with payment to insurers required within 60 days; vendors may receive compensation for billing and collection services.

Excludes portable electronics insurance from service contract regulations and establishes requirements for employee training programs, maintenance of employee registers, and compliance with 18 U.S.C. 1033.