This bill seeks to create a comprehensive regulatory framework for travel insurance in Minnesota by amending existing statutes and introducing new provisions. It establishes licensing and registration requirements for limited lines travel insurance producers and travel retailers, ensuring that all parties involved in the sale of travel insurance are properly licensed. Key definitions are introduced, such as "limited lines travel insurance producer" and "offer and disseminate," which clarify the roles of those selling travel insurance. The bill mandates that travel retailers provide essential information to prospective purchasers about coverage, claims processes, and insurer identity, while also outlining the obligations of these retailers and producers, including maintaining a register of travel retailers and providing employee training.

Furthermore, the bill introduces several new definitions and regulations, including terms like "travel administrator," "travel assistance services," and "travel protection plan." It specifies that travel administrators must be licensed and outlines the requirements for travel protection plans, which must clearly disclose their components to consumers. The legislation also establishes premium tax obligations for travel insurers and sets forth sales practices to prevent misleading marketing, ensuring clear communication regarding preexisting condition exclusions. Overall, the bill aims to enhance consumer protection and clarify the regulatory landscape for travel insurance in Minnesota, with provisions taking effect 90 days after final enactment.

Statutes affected:
Introduction: 60K.383