§ 27-1-15.6-19.9 — Travel insurance; limited lines travel insurance producer license; requirements

Indiana § 27-1-15.6-19.9

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 15.6: Insurance Producers

Text

9. (a) The commissioner may issue a
limited lines travel insurance producer license to a person that files an
application with the commissioner for a limited lines travel producer
insurance license in the form and manner prescribed by the
commissioner. A limited lines travel insurance producer licensed under
this subsection may sell, solicit, or negotiate travel insurance through
a licensed insurer. A person may not act as a limited lines travel
insurance producer unless properly licensed or as a travel insurance
retailer unless properly registered.
(b) A travel retailer may offer and disseminate travel insurance
under a limited lines travel insurance producer business entity license
only if the following conditions are met:
(1) The travel retailer or limited lines travel insurance provider
provides the following information to purchasers of a travel
insurance policy:
(A) A description of the material terms or the actual material
terms of the insurance coverage.
(B) A description of the process for filing a claim.
(C) A description of the review or cancellation process for the
travel insurance policy.
(D) The identity and contact information of the insurer and
limited lines travel insurance producer.
(2) At the time of licensure, the limited lines travel insurance
producer establishes and maintains a register, on a form
prescribed by the commissioner, of each travel retailer that offers
travel insurance on behalf of the limited lines travel insurance
producer. The register must be maintained and updated by the
limited lines travel insurance producer and include the name,
address, and contact information of the travel retailer, the
individual who directs or controls the travel retailer's operations,
and the travel retailer's federal tax identification number. The
limited lines travel insurance producer must submit the register
to the department upon reasonable request. The limited lines
travel insurance producer must also certify the travel retailer
registered complies with 18 U.S.C. 1033. The grounds for
suspension and revocation and the penalties applicable to resident
insurance producers under section 12 of this chapter apply to
travel retailers and limited lines travel insurance producers
operating under this subsection.
(3) The limited lines travel insurance producer designates an
individual employee who is a licensed insurance producer as the
designated responsible producer responsible for the travel
retailer's compliance with the travel insurance laws and
regulations applicable to the limited lines travel insurance
producer and its registrants.
(4) The designated responsible producer, president, secretary,
treasurer, and any other officer or individual who directs or
controls the operations of the limited lines travel insurance
producer complies with the fingerprinting requirements
applicable to insurance producers in the resident state of the
limited lines travel insurance producer.
(5) The limited lines travel insurance producer pays all applicable
licensing fees required by state law.
(6) The limited lines travel insurance producer requires each
employee and authorized representative of the travel retailer
whose duties include offering and disseminating travel insurance
to receive a training program, which is subject to the review and
approval of the commissioner. The training material must, at a
minimum, contain adequate instructions on the types of insurance
offered, ethical sales practices, and required disclosures to
prospective purchasers.
(c) A travel retailer that offers or disseminates travel insurance must
make available to prospective purchasers any brochures or other
written materials approved by the travel insurer. The brochures or other
written materials must include, at a minimum, the following
information:
(1) The identity and contact information of the insurer and the
limited lines travel insurance producer.
(2) An explanation that the purchase of travel insurance is not
required to purchase any other product or service from the travel
retailer.
(3) An explanation that an unlicensed travel retailer is permitted
to provide only general information about the travel insurance
offered by the travel retailer, including a description of the
coverage and price, but is not qualified or authorized to answer
technical questions about the terms and conditions of the travel
insurance offered by the travel retailer or to evaluate the adequacy
of the prospective purchaser's existing insurance coverage.
(d) An employee or authorized representative of a travel retailer
who is not licensed as an insurance producer may not:
(1) evaluate or interpret the technical terms, benefits, or
conditions of the offered travel insurance coverage;
(2) evaluate or provide advice concerning a prospective
purchaser's existing insurance coverage; or
(3) hold himself or herself out as a licensed insurer, licensed
producer, or insurance expert.
(e) Notwithstanding any other law, a travel retailer whose insurance
related activities, including the activities of its employees and
authorized representatives, are limited to offering and disseminating
travel insurance on behalf of and under the direction of a limited lines
travel insurance producer as required under this section may receive
related compensation upon registration by the limited lines travel
insurance producer as required in subsection (b)(2).
(f) As an insurer's designee, a limited lines insurance producer is
responsible for the acts of a travel retailer and shall use reasonable
means to ensure compliance of the travel retailer with this section.
(g) Any person licensed in a major line of authority as an insurance
producer is authorized to sell, solicit, and negotiate travel insurance. A
property and casualty insurance producer is not required to become
appointed by an insurer to sell, solicit, or negotiate travel insurance.

Legislative History

As added by P.L.19-2022, SEC.3.