§ 27-7-17-14 — Premium tax

Indiana § 27-7-17-14

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 7: SPECIAL TYPES OF INSURANCE
• Ch. 17: Travel Insurance

Text

(a) A travel insurer shall pay premium tax,
as provided in IC 27-1-18-2, on travel insurance premiums paid by:
(1) an individual primary policyholder who is a resident of this
state;
(2) a primary certificate holder who is a resident of this state and
elects coverage under a group travel insurance policy; and
(3) a blanket travel insurance policyholder that is a resident of this
state or has its principal place of business or the principal place
of business of an affiliate or subsidiary that has purchased blanket
travel insurance for an eligible group in this state, subject to any
apportionment rules which apply to the insurer across multiple
taxing jurisdictions or that permit the insurer to allocate premium
on an apportioned basis in a reasonable and equitable manner in
those jurisdictions.
(b) A travel insurer shall:
(1) document the state of residence or principal place of business
of a policyholder or certificate holder, as provided in subsection
(a); 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.

Legislative History

As added by P.L.19-2022, SEC.5.