Insurance: other; portable electronics insurance act; create. Amends sec. 1201 of 1956 PA 218 (MCL 500.1201). TIE BAR WITH: SB 1069'24, SB 1070'24, SB 1071'24, SB 1073'24, SB 1074'24, SB 1075'24, SB 1076'24, SB 1077'24, SB 1078'24

SB 1072 amends Michigan's insurance code to update the definitions of key terms used by insurance producers and insurers. The bill clarifies distinctions between agents representing the insured versus those representing the insurer and establishes specific categories for limited lines insurance, including portable electronics coverage. It also defines actions such as selling, soliciting, and negotiating insurance contracts to ensure regulatory clarity. This measure is part of a larger legislative package that requires the simultaneous enactment of several other related bills to take effect.