Maine Revised Statutes Title 24-A Sec. 7059 – Travel administrators
Current as of: 2023 | Check for updates
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1. License required. Notwithstanding any provision of this Title to the contrary, a person may not act or represent itself as a travel administrator for travel insurance in the State unless that person:
A. Is a licensed property and casualty insurance producer in the State for activities permitted under that producer license; [PL 2021, c. 354, §16 (NEW).]
B. Holds a valid managing general agent license in the State; or [PL 2021, c. 354, §16 (NEW).]
C. Holds a valid 3rd-party administrator license in the State. [PL 2021, c. 354, §16 (NEW).]
[PL 2021, c. 354, §16 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 7059
- Travel administrator: means a person that directly or indirectly underwrites, collects charges, collateral or premiums from or adjusts or settles claims on residents of the State in connection with travel insurance, except that a person is not a travel administrator if that person's only actions that would otherwise cause that person to be a travel administrator are among the following:
A. See Maine Revised Statutes Title 24-A Sec. 7052-ATravel insurance: means insurance coverage as defined in section 1420?F, subsection 1, paragraph H. See Maine Revised Statutes Title 24-A Sec. 7052-A
2. Exemption from adjuster license requirements. A travel administrator and its employees are exempt from the licensing requirements for adjusters in chapter 16 for travel insurance the travel administrator administers.
[PL 2021, c. 354, §16 (NEW).]
3. Insurer responsible. An insurer is responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, including any affiliate of the insurer acting as a travel administrator for the direct and assumed insurance business of the affiliated 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 superintendent upon request.
[PL 2021, c. 354, §16 (NEW).]
SECTION HISTORY
PL 2021, c. 354, §16 (NEW).