MI HB6484

Adds "portable electronics insurance" as a limited lines insurance category under the Insurance Code, covering repair or replacement of portable electronic devices against loss, theft, mechanical failure, malfunction, or damage.

Creates Chapter 12B establishing a limited line portable electronics insurance producer license for vendors to sell portable electronics insurance without requiring individual employees to hold insurance producer licenses, subject to training and supervision requirements.

Requires vendors offering portable electronics insurance to provide written disclosure materials to customers at point of sale, including information about potential coverage duplication, deductibles, benefits, claims procedures, and cancellation rights.

Allows vendors to bill and collect portable electronics insurance premiums separately from device purchases, with funds held in fiduciary capacity for the insurer and remitted within 60 days.

Exempts from insurance producer licensing requirements persons selling only portable electronics insurance in connection with device sales if written disclosures are provided, but this exemption expires 60 days after the department furnishes the limited line license application.