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304.9-475 Travel insurance offered by travel retailer on behalf of limited lines
travel insurance producer -- Requirements.
(1)
(2)
For the purposes of this section and KRS 304.9-080:
(a) "Limited lines travel insurance producer" means a:
1.
Licensed managing general agent as defined by KRS 304.9-085(1);
2.
Licensed agent as defined by KRS 304.9-020(1); or
3.
Limited lines travel insurance agent licensed pursuant to KRS
304.9-230(1);
designated by the insurer as the travel insurance supervising entity;
(b) "Offering and disseminating" means providing general information relating
to the travel insurance offered, including a description of the coverage
and price; receiving applications and premiums; and performing other
activities permitted by the department which do not require a license; and
(c) "Travel retailer" means an entity that makes, arranges, or offers travel
services and may offer and disseminate travel insurance as a service to
its customers on behalf of and under the direction of a limited lines travel
insurance producer.
A travel retailer may offer and disseminate travel insurance on behalf of and
under the control of a limited lines travel insurance producer only if the limited
lines travel insurance producer complies with the following:
(a) The limited lines travel insurance producer is clearly identified, including
the entitys name and contact information, on marketing materials and
fulfillment packages distributed by travel retailers to customers;
(b) At the time of licensure, the limited lines travel insurance producer shall
establish and maintain a register on a form prescribed by the
commissioner of each travel retailer that offers travel insurance on the
limited lines travel insurance producers behalf. The register shall be
maintained and updated annually by the limited lines travel insurance
producer and shall include the name, address, contact information, and
Federal Employment Identification Number of the travel retailer and the
name, address, and contact information of any officer or person employed
by the travel retailer who directs or controls the travel retailers
operations. The limited lines travel insurance producer shall submit the
register upon request from the commissioner. The limited lines travel
insurance producer shall also certify that it complies with 18 U.S.C. sec.
1033;
(c) The limited lines travel insurance producer has designated one (1) of its
employees as a licensed individual responsible for the business entity's
compliance with the travel insurance laws, rules, and regulations of the
state; and
(d) The limited lines travel insurance producer requires each employee of the
travel retailer whose duties include offering and disseminating travel
insurance to receive a program of instruction or training, which may be
subject to review by the commissioner. The training material shall, at a
minimum, contain instructions on the types of insurance offered, ethical
(3)
(4)
sales practices, and required disclosures to prospective customers.
Notwithstanding KRS 304.9-421 and 304.9-425, a travel retailer, including its
employees, whose activities relating to insurance are limited to offering and
disseminating travel insurance on behalf of and under the direction of a limited
lines travel insurance producer meeting the conditions as set forth in this
section may offer and disseminate travel insurance.
As the insurer's designee, the limited lines travel insurance producer is
responsible for the acts of the travel retailer.
Effective:July 12, 2012
History: Created 2012 Ky. Acts ch. 92, sec. 2, effective July 12, 2012.
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