Bill > A01457

This bill enacts the "New York travel insurance act," which creates a comprehensive legal framework for the sale, licensing, and regulation of travel insurance in New York State. The legislation defines travel insurance broadly, including coverage for trip interruption, baggage loss, medical emergencies, and other travel-related risks. Key provisions include establishing a licensing process for limited lines travel insurance producers and travel retailers, specifying detailed requirements for selling and marketing travel insurance, and outlining specific sales practices. The bill introduces precise definitions for various terms like "travel protection plans," "travel assistance services," and "eligible groups," and provides guidelines for how travel insurance can be sold, including requirements for disclosure, training, and consumer protection. It also addresses premium taxation, specifies that travel insurance can be offered as individual, group, or blanket policies, and ensures that travel retailers and producers follow ethical sales practices, such as providing clear information about insurance coverage and prohibiting misleading marketing tactics like presenting insurance as "free" or using opt-out mechanisms. The act aims to promote consumer understanding and protection in the travel insurance marketplace while creating a structured regulatory environment for insurers and producers.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A1457