HI SB2655

Establishes a new article in Hawaii's insurance code to regulate portable electronics insurance, defined as coverage for repair or replacement of portable electronic devices against loss, theft, damage, mechanical failure, or malfunction.

Requires vendors selling portable electronics insurance to obtain a limited lines license and maintain a registry of authorized vendor locations; employees and authorized representatives are exempted from individual insurance producer licensure requirements.

Mandates vendors provide written materials to customers disclosing that portable electronics insurance may duplicate existing homeowner's or renter's coverage, that enrollment is optional, and summarizing material terms, deductibles, benefits, claims procedures, and cancellation rights.

Establishes licensing fees of $150 for the initial portable electronics limited lines license and $150 annually for renewal, with licenses valid for 24-month periods.

Specifies procedures for termination or modification of policies by insurers (requiring 60 days' notice generally, with exceptions for fraud, nonpayment, or loss of active service), and requires notice to customers via mail or electronic means.