MI HB4508

Establishes comprehensive regulation of travel insurance in Michigan, creating Chapter 12B with definitions, disclosure requirements, and premium tax obligations for travel insurers.

Requires insurance producers recommending annuities to act in consumers' best interest by obtaining consumer profile information, disclosing compensation, avoiding conflicts of interest, and maintaining documentation of recommendations.

Mandates insurers establish supervision systems to ensure producer compliance with annuity sales requirements, including training standards, pre-issuance review procedures, and detection of non-compliant recommendations.

Requires producers to complete a one-time 4-credit training course on annuity products, types, taxation, and appropriate sales practices before selling annuities, with completion required by December 1, 2013 for existing producers.

Allows corporate meetings of insurance companies to be conducted electronically until September 30, 2022, with directors and stockholders/members deemed present in person when participating through approved electronic communication devices.