Signed by Governor Phil Murphy

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that establishes regulations for travel insurance in New Jersey.

Highlights:

• Specifies that arrangements for repatriation of remains are not considered travel insurance (Sec. 3).

• Authorizes the Commissioner of Banking and Insurance to issue a limited lines travel insurance producer license to an individual or business entity that applies in the manner prescribed by the commissioner (Sec. 4).

• Requires travel retailers offering travel insurance to make available to customers brochures or other written materials with information including an explanation that the purchase of travel insurance is not required in order to purchase other services from the retailer (Sec. 4).

• Requires travel insurers to pay a premium tax on travel insurance premiums paid by policyholders who are a resident of New Jersey (Sec. 5).

• Requires all sales documents provided prior to the purchase of travel insurance to be consistent with the coverage provided (Sec. 7).

• Specifies that this Act takes effect 180 days after passage (Sec. 11).

Full Bill Text