MI SB1076

Adds Chapter 12C to the 1956 Insurance Code establishing a framework for portable electronics insurance regulation in Michigan

Defines "portable electronics insurance" as coverage for repair or replacement of electronic devices against loss, theft, mechanical failure, malfunction, damage, or similar causes, excluding service contracts, warranty policies, and homeowner/renter/auto insurance

Establishes licensing requirements for "limited line portable electronics insurance producers" (vendors) and defines key terms including customers, enrolled customers, supervising entities, and portable electronics transactions

Excludes service contracts, manufacturer warranty obligations, and standard homeowner's, renter's, or automobile insurance policies from the definition of portable electronics insurance

Bill takes effect only if all of the following bills are enacted: SB 1069, SB 1070, SB 1071, SB 1072, SB 1073, SB 1074, SB 1075, SB 1077, and SB 1078