Senate Bill 715 updated Oregon's producer licensing requirements for travel insurance based on a model act adopted by the National Conference of Insurance Legislators in November 2012, as well as uniform licensing standards adopted by the National Association of Insurance Commissioners in late 2010. The bill permits licensed insurance providers to be the licensees for products distributed through non-insurance travel retailers if specific conditions protecting consumers are met, including registration of the agents, training, and consumer disclosures. The proposed rules establish direction, for limited travel insurance producers to arrange travel insurance through travel retailers. The rules set out the conditions that must be met for the limited travel insurance producer to establish and maintain a register of required information for travel insurance retailers that arrange travel insurance through the limited travel insurance producer. The rules also address requirements for training travel retailers.
The agency requests public comment on whether other options should be considered
for achieving the rule's substantive goals while reducing the negative economic
impact of the rule on business.
Filed: April 14, 2016
Public hearing: June 7, 2016, 9:00 a.m.
Last day for public comment: June 20, 2016, 5 p.m.