SALE OF TRAVEL INSURANCE
I. Pursuant to the provisions of RSA 402-J, the commissioner may issue to an individual or business entity that has filed with the commissioner an application for such limited license, a limited lines travel insurance producer license, which authorizes the limited lines travel insurance producer to sell, solicit or negotiate travel insurance through a licensed insurer. No person shall act as a limited lines travel insurance producer or travel retailer unless properly licensed or registered, respectively.
II. (a) A travel retailer may offer and disseminate travel insurance on behalf of and under a limited lines travel insurance producer business entity license only if the following conditions are met:
(1) The limited lines travel insurance producer or travel retailer provides to purchasers of travel insurance:
(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; and
(D) The identity and contact information of the insurer and the 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, listing each travel retailer that offers travel insurance on the limited lines travel insurance producer's behalf. The register shall be maintained and updated annually by the limited lines travel insurance producer and shall include the name, address, and contact information of the travel retailer and an officer or person who directs or controls the travel retailer's operations, and the travel retailer's federal tax identification number. The limited lines travel insurance producer shall submit such register to the insurance department upon request. The limited lines travel insurance producer shall also certify, upon request, that the registered travel retailer complies with 18 U.S.C. section 1033. The grounds for the suspension, revocation, and the penalties applicable to resident insurance producers under RSA 402 shall be applicable to the limited lines travel insurance producers and travel retailers.
(3) The designated responsible producer, president, secretary, treasurer, and any other officer or person who directs or controls the limited lines travel insurance producer's insurance operations has complied with the fingerprinting requirements applicable to insurance producers in the resident state of the limited lines travel insurance producer.
(4) The limited lines travel insurance producer has paid all applicable insurance producer licensing fees.
(5) 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 program of instruction or training, which may be subject to review by the commissioner. The training material shall, at a minimum, contain instructions on the types of insurance offered, ethical sales practices, and required disclosures to prospective customers.
(b) Limited lines travel insurance producers, and those registered under its license, are exempt from all examination requirements.
III. Any travel retailer offering or disseminating travel insurance shall make available to prospective purchasers, brochures or other written materials that have been approved by the travel insurer. Such materials shall include information which, at a minimum:
(a) Provides the identity and contact information of the insurer and the limited lines travel insurance producer;
(b) Explains that the purchase of travel insurance is not required in order to purchase any other product or service from the travel retailer; and
(c) Explains that an unlicensed travel retailer is permitted to provide general information about the 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 insurance offered by the travel retailer or to evaluate the adequacy of the customer's existing insurance coverage.
IV. A travel retailer's employee, or authorized representative, who is not licensed as an insurance producer shall not:
(a) Evaluate or interpret the technical terms, benefits, and conditions of the offered travel insurance coverage;
(b) Evaluate or provide advice concerning a prospective purchaser's existing insurance coverage; or
(c) Hold itself out as a licensed insurer, licensed producer, or insurance expert.
V. 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 shall not be required to become appointed by an insurer in order to sell, solicit, or negotiate travel insurance.
Source. 2021, 119:2, Pt. I, Sec. 1, eff. Oct. 7, 2021.