Bill Summary: HB 5360 - Travel Insurance Regulation and Taxation

• Establishes comprehensive regulatory framework for travel insurance, including definitions for travel insurance, travel protection plans, travel administrators, limited lines travel insurance producers, and designated travel retailers in Connecticut.

• Creates authorization process for limited lines travel insurance producers and designated travel retailers to sell travel insurance, with annual licensing fees ($650 for authorization, $650 for renewal) and compliance requirements including training and maintaining registries.

• Requires travel insurance disclosures including pre-purchase information about preexisting condition exclusions, 10-15 day free cancellation periods for consumers, and prohibits negative option/opt-out sales practices.

• Classifies travel insurance as inland marine line of insurance or accident and health line, and subjects it to premium taxes (section 12-202 for domestic insurers, section 12-210 for foreign/alien insurers) based on resident policyholder status.

• Designates violations by travel insurance sellers as unfair insurance practices or unfair trade practices subject to commissioner enforcement, suspension/revocation of authorization, and civil penalties; applies to travel administrators, limited lines producers, retailers, and insurers.