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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 304.9230(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
entity's 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 producer's 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 retailer's 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
(3)
(4)
minimum, contain instructions on the types of insurance offered, ethical 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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