                                 CODE OF VIRGINIA

PREMIUM TAX; TRAVEL INSURANCE (§ 58.1-2501.1)

A. As used in this section:
			&#8220;Blanket travel insurance&#8221; has the same meaning ascribed thereto
in &#xA7; 38.2-1887.
			&#8220;Primary certificate holder&#8221; has the same meaning ascribed
thereto in &#xA7; 38.2-1887.
			&#8220;Primary policyholder&#8221; has the same meaning ascribed thereto in
&#xA7; 38.2-1887.
			&#8220;Travel assistance services&#8221; has the same meaning ascribed
thereto in &#xA7; 38.2-1887.
			&#8220;Travel insurance&#8221; has the same meaning ascribed thereto in
&#xA7; 38.2-1887.

B. A travel insurer shall pay premium tax as provided in § 58.1-2501 on travel
insurance premiums paid by any of the following:

   1. A primary policyholder who is a resident of the Commonwealth;

   2. A primary certificate holder that is a resident of the Commonwealth; or

   3. A blanket travel insurance policyholder that is a resident of the
   Commonwealth or that has its principal place of business or the principal
   place of business of an affiliate or subsidiary that has purchased blanket
   travel insurance in the Commonwealth for eligible blanket group members,
   subject to apportionment rules that apply to the insurer across multiple
   taxing jurisdictions or that permits the insurer to allocate premiums on an
   apportioned basis in a reasonable and equitable manner in those jurisdictions.

C. A travel insurer shall (i) document the state of residence or principal place
of business of the primary policyholder or primary certificate holder and (ii)
report as premium only the amount allocable to travel insurance and not any
amounts received for travel assistance services or cancellation fee waivers.

HISTORY: 2019, cc. 266, 346.