The bill amends Alaska's travel insurance laws by introducing new definitions and classifications for various travel insurance products, including "blanket travel insurance," "cancellation fee waiver," and "eligible group." It establishes that travel insurance premiums will be taxed based on the residency of the policyholder and requires travel insurers to document the state of residence or principal place of business of their clients. Additionally, the bill outlines the responsibilities of travel insurers, mandating the reporting of premiums specifically for travel insurance while excluding amounts received for travel assistance services or cancellation fee waivers.

Moreover, the legislation sets forth a framework for licensing travel insurance limited producers and travel retailers, detailing qualifications and compliance requirements. It allows travel retailers to sell travel insurance under the guidance of a licensed producer but prohibits them from providing evaluations or advice on coverage. The bill also emphasizes the need for training programs for employees involved in selling travel insurance and mandates clear consumer information regarding the insurance products offered. It further regulates travel protection plans, ensuring they clearly describe coverage and assistance services, and prohibits unfair marketing practices. The new regulations will apply to insurance policies issued, delivered, or renewed after the effective date of the provisions.

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