Revises specialty producer license provisions relating to: (1) Application for a license; (2) Scope of license; and (3) Maintaining a registry of vendors' locations. Removes the definition for "communications equipment" and adds a definition for "portable electronics." Exempts portable electronics insurance policies from certain cancellation and nonrenewal provisions. (Companion Bill: HB 2457).   Official Text and Analysis.

Amends definition of portable electronics. Provides standardized licensing requirements for specialty producers and removes language authorizing commercial coverage. Requires specified disclosure requirements, removes language providing new cancellation policies for portable electronics; and makes technical amendments.

Amends various terms and definitions. A vendor, its employees, and authorized representatives may sell insurance covering portable electronics on either a master, corporate, group, or individual policy at each location the vendor engages in portable electronics transactions. A registry which identifies in-state vendor locations authorized to sell or solicit portable electronics insurance must be maintained and provided to the OIC within ten day's request for such information. An employee or authorized representative may sell or offer portable electronics insurance without being licensed if the vendor is licensed and in compliance with state law and the rules adopted by the OIC. A training program must be provided for the employees of the licensed vendor that are directly engaged in selling or offering portable electronics insurance. Employees and authorized representatives must receive basic instruction about portable electronics insurance and the disclosures that must be made to customers. No employees or authorized representatives of a vendor of portable electronics may identify themselves as a nonlimited lines licensed insurance producer .

Modifies several definitions in the underlying bill. Provides for additional licensure requirements. Provides for additional disclosures to be made to prospective customers. Provides for additional training requirements. Provides for additional stipulations for those processing claims.

Makes a number of changes to the regulatory framework for communications equipment insurance. Changes communication equipment to portable electronics. Provides standards for employee training. Provides standards for disclosure materials. Allows certain persons who meet specific criteria to process specialty producer insurance claims without an adjuster license.