The Travel Insurance Act establishes a comprehensive legal framework for the sale of travel insurance in New Jersey, specifically targeting policies sold to state residents. It clarifies that while existing insurance laws remain applicable, the provisions of this Act will take precedence in case of any conflicts. Key definitions are introduced, including "travel insurance," "travel assistance services," and "travel retailer." The Act also outlines licensing requirements for limited lines travel insurance producers and travel retailers, detailing their responsibilities in informing consumers about coverage. Additionally, it mandates that travel insurers pay a premium tax on travel insurance premiums and sets guidelines for travel protection plans that combine various services.

The Act enhances consumer protection by requiring travel insurance policies to disclose pre-existing condition exclusions before purchase and in fulfillment materials. It mandates timely delivery of fulfillment materials post-purchase, specifies a cancellation period for full refunds, and prohibits negative options in sales. Furthermore, it establishes that marketing blanket travel insurance as free is an unfair trade practice. The bill also outlines qualifications for travel administrators and classifies travel insurance under an inland marine line of insurance, with exceptions. The Commissioner is empowered to adopt regulations for implementation, with the Act taking effect 90 days after enactment, ultimately aiming to provide clearer guidelines and protections for consumers in the travel insurance market.