SB399 Summary

• Establishes comprehensive regulatory framework for travel insurance sales in Arkansas by adding travel insurance as marine insurance and creating detailed licensing requirements for limited lines travel insurance producers and travel retailers.

• Allows travel retailers to offer travel insurance without individual producer licenses if they operate under a licensed limited lines travel insurance producer and meet training, disclosure, and compliance requirements including maintaining a registry of participating retailers.

• Requires disclosure of material terms, claim filing procedures, cancellation processes, and insurer contact information to consumers; prohibits negative option enrollment and marketing blanket travel insurance as "free."

• Defines travel insurance to include coverage for trip cancellation, baggage loss, accommodation damage, sickness, accident, disability, and death during travel, but excludes major medical plans for trips longer than 6 months and non-insurance services like cancellation fee waivers and travel assistance services.

• Mandates insurers pay premium tax on travel insurance sold to Arkansas residents; allows travel protection plans combining insurance with travel assistance services and cancellation waivers at a single price with proper disclosure and separate cancellation rights of at least 10-15 days.