This bill establishes a regulatory framework for travel insurance in Minnesota by amending existing statutes and introducing new provisions. It includes the licensing and registration of limited lines travel insurance producers and travel retailers, allowing them to sell and regulate travel insurance. Key definitions are provided, such as "limited lines travel insurance producer" and "offer and disseminate," which clarify the roles of those involved in the sale of travel insurance. The bill specifies that travel insurance does not include major medical plans and outlines the requirements for travel retailers to provide essential information to customers regarding the insurance coverage.

Furthermore, the bill mandates that limited lines travel insurance producers maintain a register of travel retailers and their contact information, ensuring compliance with relevant laws. It emphasizes the need for training for employees involved in selling travel insurance and requires travel retailers to provide approved materials to prospective purchasers. The legislation also prohibits unfair trade practices, such as marketing illusory insurance policies, and mandates clear disclosures to consumers about preexisting condition exclusions. Overall, the bill aims to enhance consumer protection and ensure that travel insurance is sold transparently and in a regulated manner, with provisions taking effect 90 days after final enactment.

Statutes affected:
Introduction: 60K.383
1st Engrossment: 60K.383
2nd Engrossment: 60K.383