Section 6.19. Reporting and taxation of directly placed unauthorized insurance.

 

(1)   Purpose. This rule implements and interprets ss. 601.42 , 618.42 and 618.43 , Stats., for the purpose of facilitating the reporting and collection of tax due the state of Wisconsin from persons who directly procure or renew insurance in an unauthorized insurer.

(2)   Reporting directly placed unauthorized insurance. The procurement or renewal of insurance from any unauthorized insurer shall be reported within 60 days to the commissioner on a form substantially the same as Appendix 1 to this rule.

(3)   Reporting and payment of tax for directly placed unauthorized insurance. All premium tax shall be reported and forwarded to the commissioner on or before March 1, for all insurance which applies to exposures located wholly or partially within this state procured, renewed or continued during the preceding calendar year in an unauthorized insurer. The report shall be made on a form substantially the same as Appendix 2 to this rule.

(4)   Penalty. Any violation of this rule shall subject the person violating the same to s. 601.64 , Stats.

History: Cr. Register, December, 1973, No. 216 , eff. 1-1-74. Ins 6.18 Appendix 1 PREMIUM TAX REPORT
Year Ending December 31, 2 Unauthorized Insurance on Wisconsin Risks — Sections 610.11 and 618.43 , Statutes This report is to be filed with the Commissioner of Insurance, State of Wisconsin, Madison, Wisconsin 53702, on or before
March 1, 2 . - See PDF for table - See PDF for table

Note

2011 Wisconsin Act 224 changed the penalty tax rate for surplus lines insurance which is ocean marine insurance to the same 5% penalty rate for all other surplus lines insurance. Any previous reference to a 2% penalty rate for ocean marine insurance in this rule is not enforceable as that rate is now the same 5% penalty rate for all surplus lines insurance. Microsoft Windows NT 6.1.7601 Service Pack 1 Ins 6.19 Appendix 1 Microsoft Windows NT 6.1.7601 Service Pack 1 NOTICE OF DIRECTLY PLACED UNAUTHORIZED INSURANCE Microsoft Windows NT 6.1.7601 Service Pack 1 To:   Commissioner of Insurance
  State of Wisconsin
  P.O. Box 7873
  Madison, WI 53707-7873 Microsoft Windows NT 6.1.7601 Service Pack 1 1.   Name of Person or Organization Insured Microsoft Windows NT 6.1.7601 Service Pack 1 2.   Address of Insured Microsoft Windows NT 6.1.7601 Service Pack 1 3.   Contract Number Microsoft Windows NT 6.1.7601 Service Pack 1 4.   Effective Date Microsoft Windows NT 6.1.7601 Service Pack 1 5.   Expiration Date Microsoft Windows NT 6.1.7601 Service Pack 1 6.   Name and Address of Insurance Company Microsoft Windows NT 6.1.7601 Service Pack 1 7.   Description or Type of Coverage Microsoft Windows NT 6.1.7601 Service Pack 1 8.   Premium Charged Microsoft Windows NT 6.1.7601 Service Pack 1 The undersigned certifies that this report is true and correct according to the best of his or her information, knowledge, and belief.

         

      , 2   Microsoft Windows NT 6.1.7601 Service Pack 1 This report, pursuant to s. 618.42 (2) , Stats., must be filed with the Commissioner of Insurance within 60 days after effectuation of any new or renewal insurance contract independently procured from an unauthorized insurer. A separate report is required for each new or renewal insurance contract. A 3% Tax on the premiums charged for such contracts during the calendar year ending December 31 must be paid to the Commissioner on or before March 1 next succeeding. Microsoft Windows NT 6.1.7601 Service Pack 1 Ins 6.19 Appendix 2 Microsoft Windows NT 6.1.7601 Service Pack 1 PREMIUM TAX REPORT
Year Ending December 31, 2

Directly Placed Unauthorized Insurance — Sections 618.42 and 618.43 , Wisconsin Statutes
This report is to be filed with the Commissioner of Insurance, State of Wisconsin, Madison, Wisconsin 53702, on or before
March 1, 2 - See PDF for table - See PDF for table Microsoft Windows NT 6.1.7601 Service Pack 1 Microsoft Windows NT 6.1.7601 Service Pack 1 2011 Wisconsin Act 224 changed the tax rate for surplus lines insurance which is ocean marine insurance to the same 3% rate for all other surplus lines insurance. Any previous reference to a ½ of 1% rate for ocean marine insurance in this rule is not enforceable as that insurance is now taxed at the same 3% rate for all surplus lines insurance. Microsoft Windows NT 6.1.7601 Service Pack 1