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 cancellation fee waivers and travel assistance services are not covered unless explicitly stated. The Act defines key terms related to travel insurance, such as "aggregator site" and "blanket travel insurance," and outlines the responsibilities of travel insurers and producers. It also sets licensing requirements for limited lines travel insurance producers and travel retailers, mandates premium tax payments on travel insurance premiums, and ensures that consumers are informed about travel protection plans.

Additionally, the Act introduces provisions requiring travel insurance policies with pre-existing condition exclusions to inform consumers about these exclusions prior to purchase. It mandates timely delivery of fulfillment materials, allowing policyholders to cancel for a full refund within specified timeframes. The bill prohibits negative options in the purchasing process and classifies marketing blanket travel insurance as free as an unfair trade practice. It also outlines qualifications for travel administrators and empowers the commissioner to adopt necessary regulations, ultimately aiming to enhance consumer protection and regulatory compliance in the travel insurance market.