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 "travel assistance services." It establishes that travel insurance premiums will be taxed based on the residency of the policyholder and requires insurers to document the state of residence of their clients. Additionally, the bill mandates that insurers report only the amounts related to travel insurance, excluding fees for assistance services or cancellation waivers. It also outlines licensing requirements for travel insurance limited producers and travel retailers, allowing the latter to sell insurance under the guidance of a licensed producer while prohibiting them from interpreting insurance terms.

Moreover, the legislation emphasizes the importance of clear disclosures regarding coverage and services in travel protection plans, requiring descriptions of insurance, assistance services, and cancellation waivers, along with contact information for service providers. It clarifies that certain travel assistance services are not classified as insurance and establishes sales practices to protect consumers, including consistent marketing materials and preexisting condition information. The bill also sets licensing requirements for travel administrators and repeals a previous statute, ensuring that the new regulations apply to insurance policies issued or renewed after the effective date. Overall, the legislation aims to enhance consumer protection and clarify the roles of stakeholders in the travel insurance market.

Statutes affected:
SB0244A, AM SB 244, introduced 02/16/2026: 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