Illinois Compiled Statutes 215 ILCS 5/1650 – Travel insurance administrators
Current as of: 2024 | Check for updates
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(a) Notwithstanding any other provisions of this Code, no entity shall act or represent itself as a travel administrator for travel insurance in this State unless that entity:
(1) is a licensed property and casualty insurance
(1) is a licensed property and casualty insurance
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producer in this State for activities permitted under that producer license;
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(2) holds a valid managing general agent license in
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this State; or
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(3) holds a valid third-party administrator license
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in this State.
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(b) An insurer is responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, and is responsible for ensuring that the travel administrator maintains all books and records relevant to the insurer to be made available by the travel administrator to the Director upon request.
Terms Used In Illinois Compiled Statutes 215 ILCS 5/1650
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- Travel administrator: means a person who directly or indirectly underwrites, collects charges, collateral, or premiums from, or adjusts or settles claims on residents of this State in connection with travel insurance, except that a person shall not be considered a travel administrator if that person's only actions that would otherwise cause the person to be considered a travel administrator are among the following:
(1) a person working for a travel administrator to
the extent that the person's activities are subject to the supervision and control of the travel administrator; |
(2) an insurance producer selling insurance or
engaged in administrative and claims-related activities within the scope of the producer's license; |
(3) a travel retailer offering and disseminating
travel insurance and registered under the license of a limited lines travel insurance producer in accordance with Section 1635; |
(4) an individual adjusting or settling claims in
the normal course of that individual's practice or employment as an attorney-at-law and who does not collect charges or premiums in connection with insurance coverage; or |
(5) a business entity that is affiliated with a
licensed insurer while acting as a travel administrator for the direct and assumed insurance business of an affiliated insurer. See Illinois Compiled Statutes 215 ILCS 5/1630 (1) the interruption or cancellation of a trip or | ||
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(2) the loss of baggage or personal effects; (3) damages to accommodations or rental vehicles; (4) sickness, accident, disability, or death | ||
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(5) emergency evacuation; (6) repatriation of remains; or (7) any other contractual obligations to indemnify | ||
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