West Virginia Code 33-62-5 – Premium tax
(a) A travel insurer shall pay premium tax, as provided in §33-3-14 and § 33-3-14a of this code, on travel insurance premiums paid by any of the following:
Terms Used In West Virginia Code 33-62-5
- Blanket travel insurance: means travel insurance issued to any eligible group providing coverage for specified circumstances and 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 West Virginia Code 33-62-3
- Eligible group: means any of the following:
(A) Any entity engaged in the business of providing travel or travel services, including, but not limited to, tour operators, lodging providers, vacation property owners, hotels and resorts, travel clubs, travel agencies, property managers, cultural exchange programs, and common carriers, or the operator, owner, or lessor of a means of transportation of passengers, including, but not limited to, airlines, cruise lines, railroads, steamship companies, and public bus carriers. See West Virginia Code 33-62-3
- 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 West Virginia Code 33-62-3
- Primary certificate holder: means an individual person who elects and purchases travel insurance under a group policy. See West Virginia Code 33-62-3
- Primary policyholder: means an individual person who elects and purchases individual travel insurance. See West Virginia Code 33-62-3
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- Travel assistance services: means non-insurance services that may be distributed by limited lines travel insurance producers or other entities, and for which there is no indemnification for the travel protection plan customer based on a fortuitous event, nor any transfer or shifting of risk that would constitute the business of insurance. See West Virginia Code 33-62-3
- Travel insurance: means insurance coverage for personal risks incident to planned travel, including, but not limited to:
(A) Interruption or cancellation of trip or event. See West Virginia Code 33-62-3
(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) An eligible group policyholder that is a resident in, or has its principal place of business or the principal place of business of an affiliate or subsidiary in, this state that purchases a blanket travel insurance policy for eligible blanket group members, subject to any apportionment rules that apply 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) An insurer shall obtain and maintain documentation necessary to determine the state to which premium tax should be reported based on information provided by the policyholder or certificate holder, as applicable, and shall report as premium only the amount allocable to travel insurance and not any amounts received for travel assistance services or cancellation fee waivers.