HB1990 - Travel Insurance Regulatory Framework

• Establishes the Hawaii Travel Insurance Act by adding a new article to Chapter 431, Hawaii Revised Statutes, creating a comprehensive regulatory framework for travel insurance sales in the State

• Authorizes the Commissioner of Insurance to issue limited lines travel insurance producer licenses to individuals and entities, allowing them to sell travel insurance through licensed insurers without requiring full insurance producer licenses

• Permits travel retailers to offer and disseminate travel insurance on behalf of limited lines travel insurance producers upon registration, with restrictions on unlicensed representatives from evaluating coverage or advising customers

• Classifies travel insurance as an inland marine line of insurance for filing and rating purposes, while allowing health-related travel coverage to be filed under either accident and health or inland marine categories

• Requires travel insurers to pay premium taxes on travel insurance sold to Hawaii residents and establishes rules for travel protection plans that combine insurance, travel assistance services, and cancellation fee waivers with clear consumer disclosures and a 10-15 day cancellation period with full refund option