The proposed "Idaho Travel Insurance Act" introduces a new Chapter 45 to Title 41 of the Idaho Code, establishing a comprehensive legal framework for the sale of travel insurance in the state. This chapter defines key terms and outlines provisions related to premium taxes, travel protection plans, sales practices, and the roles of travel administrators. It clarifies that the chapter applies specifically to travel insurance sold to Idaho residents and supersedes any conflicting general insurance laws. The bill also amends existing sections of the Idaho Code to revise definitions and requirements for limited lines travel insurance producers, while repealing outdated sections related to registration and policy types.

Key provisions of the bill include the establishment of a premium tax on travel insurance premiums, requirements for clear consumer disclosures regarding coverage, and regulations to prevent deceptive marketing practices. It expands the definition of a "limited lines travel insurance producer" to include licensed managing general agents and licensed insurance producers, while clarifying that travel insurance does not include major medical plans for extended trips. The bill mandates that travel retailers provide specific information to purchasers and outlines the responsibilities of both limited lines travel insurance producers and travel retailers to ensure compliance with state laws. It emphasizes the need for proper licensing and registration for those involved in selling travel insurance and establishes penalties for non-compliance, with the bill set to take effect on July 1, 2025.

Statutes affected:
Bill Text: 41-1090, 41-1091, 41-1092, 41-1093, 41-1094, 41-1095, 41-1096, 41-1097, 41-1003