Enacts the "New York travel insurance act" regulating the licensing and registration of limited lines travel insurance producers and travel.
The New York travel insurance act regulates the licensing and registration of limited lines travel insurance producers and travel retailers, and the sale and marketing of travel insurance and related products. It defines terms such as "travel insurance," "travel retailer," and "limited lines travel insurance producer." The act requires travel insurance producers to document policyholder information, report premiums, and disclose pre-existing condition exclusions. Travel retailers must provide approved materials to prospective purchasers, including insurer and producer contact information.
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