The bill amends Alaska's travel insurance laws by introducing new definitions and provisions that clarify various aspects of travel insurance policies. It defines terms such as "blanket travel insurance," "cancellation fee waiver," "eligible group," and "group travel insurance," while also establishing that travel insurance premiums will be taxed based on the residency of the policyholder or certificate holder. Additionally, it mandates that travel insurers document the state of residence or principal place of business of these individuals. The bill also outlines licensing requirements for travel insurance limited producers and travel retailers, specifying their responsibilities in selling travel insurance and ensuring they do not evaluate or interpret insurance terms.

Moreover, the legislation distinguishes travel assistance services from insurance, mandates disclosure of preexisting condition exclusions, and prohibits unfair trade practices, such as marketing blanket travel insurance as free. It establishes licensing requirements for travel administrators and clarifies definitions related to travel insurance, including the repeal of a previous statute (AS 21.27.152) that is no longer applicable. The new regulations are set to take effect on January 1, 2027, and will apply to any insurance policy or contract issued, delivered, or renewed after that date.

Statutes affected:
HB0302A, AM HB 302, introduced 02/11/2026: 21.09.210, 21.42.825, 21.27.990, 21.27.150, 21.42.805, 21.27.100, 21.27.152, 21.96.020, 21.27.115, 21.36.515, U.S.C, 21.42.800, 21.42.810, 21.42.815, 21.42.820
HB0302B, AM CSHB 302(L&C), introduced 04/16/2026: 21.09.210, 21.42.825, 21.27.990, 21.27.150, 21.42.805, 21.27.100, 21.27.152, 21.96.020, 21.27.115, 21.36.515, U.S.C, 21.42.800, 21.42.810, 21.42.815, 21.42.820