summary
Introduced
09/29/2022
09/29/2022
In Committee
12/18/2023
12/18/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
"Travel Insurance Act."
AI Summary
This bill, the "Travel Insurance Act," creates a comprehensive legal framework for the sale of travel insurance in the state of New Jersey. Key provisions include:
- Defining various terms related to travel insurance, such as "travel insurance," "travel protection plans," "travel administrators," and "travel retailers."
- Establishing licensing requirements for "limited lines travel insurance producers" and allowing travel retailers to offer and disseminate travel insurance on their behalf.
- Specifying the information that must be provided to consumers when purchasing travel insurance or travel protection plans.
- Requiring travel insurers to pay premium tax on policies sold to New Jersey residents.
- Classifying travel insurance as an inland marine line of insurance for rate and form filing purposes.
- Granting the Commissioner of Banking and Insurance the authority to adopt rules and regulations to implement the act.
The bill aims to create a comprehensive regulatory framework for the sale of travel insurance in New Jersey to promote the public welfare.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Reported from Senate Committee, 2nd Reading (on 12/18/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S3087 |
Analysis - Statement SEN 12/18/23 | https://pub.njleg.gov/Bills/2022/S3500/3087_S1.PDF |
BillText | https://pub.njleg.gov/Bills/2022/S3500/3087_I1.HTM |
Bill | https://pub.njleg.gov/Bills/2022/S3500/3087_I1.PDF |
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