Rhode Island General Laws 27-79.1-6. Premium tax
(a) A travel insurer shall pay a gross premiums tax, as provided in § 44-17-2, on travel insurance premiums paid by any of the following:
(1) An individual primary policyholder who is a resident of this state;
(2) A primary certificate holder who is a resident of this state who elects coverage under a group travel insurance policy; or
(3) A blanket travel insurance policyholder that is resident in, or has its principal place of business or the principal place of business of an affiliate or subsidiary that has purchased blanket travel insurance in this state for eligible blanket group members, subject to any apportionment rules that apply to the insurer across multiple taxing jurisdictions, or that permit the insurer to allocate premiums on an apportioned basis in a reasonable and equitable manner in those jurisdictions.
Terms Used In Rhode Island General Laws 27-79.1-6
- Blanket travel insurance: means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy, with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group. See Rhode Island General Laws 27-79.1-3
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Group travel insurance: means travel insurance issued to any eligible group. See Rhode Island General Laws 27-79.1-3
- Primary certificate holder: means an individual person who elects and purchases travel insurance under a group policy. See Rhode Island General Laws 27-79.1-3
- Primary policyholder: means an individual person who elects and purchases individual travel insurance. See Rhode Island General Laws 27-79.1-3
- Travel assistance services: means non-insurance services for which the consumer is not indemnified based on a fortuitous event, and where providing the service does not result in transfer or shifting of risk that would constitute the business of insurance. See Rhode Island General Laws 27-79.1-3
- Travel insurance: means insurance coverage for personal risks incident to planned travel, including:
(i) Interruption or cancellation of trip or event;
(ii) Loss of baggage or personal effects;
(iii) Damages to accommodations or rental vehicles;
(iv) Sickness, accident, disability, or death occurring during travel;
(v) Emergency evacuation;
(vi) Repatriation of remains; or
(vii) Any other contractual obligations to indemnify or pay a specified amount to the traveler upon determinable contingencies related to travel as approved by the commissioner. See Rhode Island General Laws 27-79.1-3
(b) A travel insurer shall:
(1) Document the state of residence or principal place of business of the policyholder or certificate holder, as required in this chapter; and
(2) Report as premium only the amount allocable to travel insurance, and not any amounts received for travel assistance services or cancellation fee waivers.
History of Section.
P.L. 2019, ch. 44, § 2; P.L. 2019, ch. 51, § 2.