Provides comprehensive codification of legal requirements specific to travel insurance.
The bill distinguishes between insurance and non-insurance elements of travel protection plans to establish appropriate scope and reach of the regulatory framework.
Bill is based on the Travel Insurance Model Act which has been adopted by the NAIC.
Establishes uniform meanings of key terms and current practice for premium taxes.
Allows offering travel products for a seamless consumer experience and costs savings.
Clarifies permissible and prohibited sales practices; requires consumer disclosures.
Defines the applicability of the state of Pennsylvania's unfair trade practices law.
Clarifies that travel insurance may be sold via individual, group, or blanket policies.
Travel insurance is generally classified and filed as an inland marine line of insurance.
Legislative History
On Sep. 28, 2023, bill introduced in Senate; on Dec. 12, 2023, bill passed in Senate.
On Dec. 12, 2023, bill introduced in the House; on Jun. 5, 2024, bill passed in House.
On Jun. 12, 2024, bill was sent to the governor and is pending governor review.
Effectiveness
Bill provisions become effective in 90 days after governor approval and passage.
Jun. 17, 2024 PEN LEG Governor Approved Bill
On Jun. 17, 2024, PEN LEG reported bill was signed by the governor, assigned Act 28.
