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, defining key terms such as "limited lines travel insurance producer" and "offer and disseminate." The legislation clarifies that travel insurance does not encompass major medical plans and outlines the requirements for travel retailers to provide essential information to customers about their insurance coverage. Additionally, it mandates that limited lines travel insurance producers maintain a register of travel retailers and their contact information, ensuring compliance with relevant laws.

The bill also introduces new definitions and regulations regarding travel insurance services, including terms like "travel administrator," "travel assistance services," and "travel protection plan." It prohibits unfair trade practices, such as offering illusory insurance policies, and requires that marketing materials align with the insurance policy. Consumers must be informed about preexisting condition exclusions, and licensing requirements for travel administrators are established. The provisions of this bill will take effect 90 days after final enactment, aiming to enhance consumer protection and ensure transparent sales practices in the travel insurance market.

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