31A-23a-903. Issuance of limited lines travel insuranceproducerlicense. Notwithstanding any other provision of this chapter:
(1)
The commissioner may issue to an individual or business entity that has filed with the commissioner an application in a form and manner prescribed by the commissioner a limited lines travel insurance producer license that authorizes the limited lines travel insurance producer to sell, solicit, or negotiate travel insurance through a licensed insurer.
Terms Used In Utah Code 31A-23a-903
Application: means a document:
(a)
(i)
completed by an applicant to provide information about the risk to be insured; and
(ii)
that contains information that is used by the insurer to evaluate risk and decide whether to:
(A)
insure the risk under:
(I)
the coverage as originally offered; or
(II)
a modification of the coverage as originally offered; or
(B)
decline to insure the risk; or
(b)
used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
Insurer: is a s defined in Section 31A-1-301, except that the following persons or similar persons are not insurers for purposes of 7:
(a)
a risk retention group as defined in:
(i)
the Superfund Amendments and Reauthorization Act of 1986, Pub. See Utah Code 31A-23a-102
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
Limited lines travel insurance producer: means one of the following designated by an insurer as the travel insurance supervising entity as provided in Subsection 31A-23a-905(4):
(a)
a licensed managing general agent or third party administrator; or
(b)
a licensed insurance producer, including a limited lines producer. See Utah Code 31A-23a-902
Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning a substantive benefit, term, or condition of the contract if the person engaged in that act:
producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
Travel insurance: means insurance coverage for personal risks incident to planned travel, including:
(i)
interruption or cancellation of a trip or event;
(ii)
loss of baggage or personal effects;
(iii)
damages to accommodations or rental vehicles;
(iv)
sickness, accident, disability, or death during travel;
(v)
emergency evacuation;
(vi)
repatriation of remains; or
(vii)
a contractual obligation that indemnifies or pays a specified amount to the traveler upon a determinable contingency related to travel. See Utah Code 31A-23a-902
(2)
A limited lines travel insurance producer, and those registered under the license of the limited lines travel producer, are exempt from:
(a)
the examination requirements under Section 31A-23a-108; and
(b)
the continuing education requirements under Section 31A-23a-202.
