Senate Bill 2173 Summary

• Creates Chapter 26.1-58 of the North Dakota Century Code to regulate the sale and licensing of travel insurance, including definitions of travel insurance, travel administrators, travel retailers, and travel protection plans.

• Amends Section 26.1-26-54 to establish that travel insurance is a limited line of insurance and defines who may act as a limited lines travel insurance producer, including licensed managing general agents, third-party administrators, and travel administrators.

• Requires limited lines travel insurance producers to establish and maintain annual registers of travel retailers, provide required disclosures to consumers, designate a compliance officer, and ensure employee training on insurance offerings and ethical sales practices.

• Classifies travel insurance as inland marine insurance and establishes sales practice requirements including 15-day cancellation rights (10 days for electronic delivery) and prohibition on marketing blanket travel insurance as free.

• Restricts travel administrators to licensed property and casualty insurance producers or third-party administrators, and permits travel retailers to receive fair compensation for offering travel insurance while prohibiting unlicensed employees from evaluating coverage or providing technical advice.