Section 7059 - Travel administrators1.License required. Notwithstanding any provision of this Title to the contrary, a person may not act or represent itself as a travel administrator for travel insurance in the State unless that person:A. Is a licensed property and casualty insurance producer in the State for activities permitted under that producer license; [2021, c. 354, §16(NEW).]B. Holds a valid managing general agent license in the State; or [2021, c. 354, §16(NEW).]C. Holds a valid 3rd-party administrator license in the State. [2021, c. 354, §16(NEW).] [2021, c. 354, §16(NEW).]
2.Exemption from adjuster license requirements. A travel administrator and its employees are exempt from the licensing requirements for adjusters in chapter 16 for travel insurance the travel administrator administers. [2021, c. 354, §16(NEW).]
3.Insurer responsible. An insurer is responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, including any affiliate of the insurer acting as a travel administrator for the direct and assumed insurance business of the affiliated insurer, and is responsible for ensuring that the travel administrator maintains all books and records relevant to the insurer to be made available by the travel administrator to the superintendent upon request. [2021, c. 354, §16(NEW).]
Added by 2021SP1, c. 354,§ 16, eff. 10/18/2021.