Bill > SB244

This bill amends Alaska law to establish a comprehensive regulatory framework for travel insurance, defining terms like "blanket travel insurance," "cancellation fee waiver," "eligible group," "primary certificate holder," and "travel assistance services" to clarify what constitutes travel insurance and related offerings. It specifies that travel insurance premiums will be taxed based on the residency of the policyholder or certificate holder, or the principal place of business for blanket policies, and requires travel insurers to document residency and report premiums accurately, excluding fees for travel assistance or cancellation waivers. The bill also introduces a new licensing category for "travel insurance limited producers" and outlines responsibilities for "travel retailers" who offer such insurance, including maintaining registers of retailers, providing training, and ensuring compliance with laws. Furthermore, it clarifies that travel protection plans, which may combine travel insurance with travel assistance services and cancellation fee waivers, must clearly disclose the components and their respective pricing to consumers, and it sets forth rules for sales practices, including disclosure of pre-existing condition exclusions and a right to cancel for a refund. Finally, the bill establishes licensing requirements for "travel administrators" who handle travel insurance and clarifies that insurers are liable for their administrators' actions.

Business and Industry, Transportation and Infrastructure

Labor & Commerce (Senate)

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB244