Enacts the New York travel insurance act

Enacts the "New York travel insurance act" regulating the licensing and registration of limited lines travel insurance producers and travel retailers, and the sale and marketing of travel insurance and related products.

VETO MESSAGE - No. 147 TO THE SENATE: I am returning herewith, without my approval, the following bill: Senate Bill Number 5304, entitled: "AN ACT to amend the insurance law, in relation to enacting the "New York travel insurance act" regulating the licensing and registra- tion of limited lines travel insurance producers and travel retailers, and the sale and marketing of travel insurance and related products" NOT APPROVED This bill would establish a new comprehensive regulatory framework for the sale of travel insurance in New York. However, the Insurance Law already provides a framework for regulating travel insurance in New York that provides greater consumer protections than those featured in the bill. By creating a parallel regulatory framework for travel insurance, the bill would create numerous conflicts with existing law and create confusion in the marketplace about which substan...