Date of enactment:
2021 Senate Bill 482   Date of publication*:
* Section 991.11, Wisconsin Statutes: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication."
2021 WISCONSIN ACT
An Act to amend 76.60 and 628.02 (1) (b) 8.; to repeal and recreate 632.977; and to create 628.34 (15) and 629.01 (5) (g) of the statutes; relating to: regulating travel insurance.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SB482,1 Section 1. 76.60 of the statutes is amended to read:
76.60 Fire, travel, and marine insurers; license fees. Every insurer doing a fire, travel, or marine insurance business, other than domestic insurers and insurers excepted under s. 76.61, shall pay to the state, in respect to travel or marine insurance a tax of 0.5 percent and in respect to fire insurance a tax of 2.375 percent on the amount of its gross premiums, as calculated under s. 76.62. In case any insurer discontinues business in this state and reinsures the whole or a part of its risks without making payment of this tax, the insurer accepting such reinsurance shall pay the tax. If several insurers make such reinsurance the tax shall be apportioned among the insurers in proportion to the original premiums upon the business in this state so reinsured by each such insurer. Upon the payment of the tax provided in this section, and the fees required by s. 601.31, such insurer may be licensed to transact its business until May 1 in the ensuing year, unless before then its license is revoked or forfeited according to law. In the case of travel insurance, the premiums subject to tax under this section are the premiums for travel insurance, as defined in s. 632.977 (1) (i), paid by an individual who is a resident of this state and who purchases travel insurance coverage under an individual or group policy or paid by a person who is a resident of or has a principal place of business in this state and who purchases blanket travel insurance, as defined in s. 632.977 (1) (a).
SB482,2 Section 2. 628.02 (1) (b) 8. of the statutes is amended to read:
628.02 (1) (b) 8. A travel retailer, as defined in s. 632.977 (1) (d) (k), or an employee or authorized representative of a travel retailer, that offers and disseminates, as defined in s. 632.977 (1) (am) (f), travel insurance under s. 632.977.
SB482,3 Section 3. 628.34 (15) of the statutes is created to read:
628.34 (15) Travel insurance. (a) In this subsection:
1. “Blanket travel insurance” has the meaning given in s. 632.977 (1) (a).
2. “Limited lines travel insurance producer” has the meaning given in s. 632.977 (1) (e).
3. “Travel insurance” has the meaning given in s. 632.977 (1) (i).
4. “Travel retailer” has the meaning given in s. 632.977 (1) (k).
(b) No person may market blanket travel insurance as free.
(c) No person may offer or sell a travel insurance policy that could never result in payment of any claims for any insured under the policy.
(d) When travel insurance is marketed to a prospective purchaser through the Internet site of the insurer or an aggregator Internet site that provides access to information on insurance products from more than one insurer, the inclusion on the Internet site of a summary of the travel insurance policy's coverage does not violate this section if the summary is accurate and the prospective purchaser has access to the policy's full provisions through electronic means.
(e) When a person purchases a trip or travel package to a destination jurisdiction that requires insurance coverage, a travel retailer or limited lines travel insurance producer supplying the trip or travel package does not violate this section by requiring that the person, as a condition of purchasing the trip or travel package, choose between purchasing the required coverage through the travel retailer or limited lines travel insurance producer or agreeing to obtain and provide proof of the required coverage prior to departure.
SB482,4 Section 4 . 629.01 (5) (g) of the statutes is created to read:
629.01 (5) (g) A travel administrator, as defined in s. 632.977 (1) (g).
SB482,5 Section 5. 632.977 of the statutes is repealed and recreated to read: