Ins 6.18(2)(2) Reporting and payment of tax by unauthorized insurers transacting business in violation of law. 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 written, renewed or continued during the preceding calendar year by an unauthorized insurer. The report and the premium taxes owed shall be submitted through an electronic filing system, a link to which may be found on the office’s website. Ins 6.18(3)(3) Penalty. Any violation of this rule shall subject the person violating the same to s. 601.64, Stats. Ins 6.18 HistoryHistory: Cr. Register, December, 1973, No. 216, eff.1-1-74; CR 22-076: am. (2), r. appendix 1 Register July 2023 No. 811, eff. 8-1-23. Ins 6.19Ins 6.19 Reporting and taxation of directly placed unauthorized insurance. Ins 6.19(1)(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. Ins 6.19(2)(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. Ins 6.19(3)(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 and the premium taxes owed shall be submitted through an electronic filing system, a link to which may be found on the office’s website. Ins 6.19(4)(4) Penalty. Any violation of this rule shall subject the person violating the same to s. 601.64, Stats. Ins 6.19 HistoryHistory: Cr. Register, December, 1973, No. 216, eff. 1-1-74; CR 22-076: am. (3), r. appendix 2 Register July 2023 No. 811, eff. 8-1-23. Ins 6.19 Appendix 1
NOTICE OF DIRECTLY PLACED UNAUTHORIZED INSURANCE
To: Commissioner of Insurance
State of Wisconsin
P.O. Box 7873
Madison, WI 53707-7873
1. Name of Person or Organization Insured
2. Address of Insured
3. Contract Number
4. Effective Date
5. Expiration Date
6. Name and Address of Insurance Company
7. Description or Type of Coverage
8. Premium Charged
The undersigned certifies that this report is true and correct according to the best of his or her information, knowledge, and belief.
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Ins 6.19 NoteNote: 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. Ins 6.20Ins 6.20 Investments of insurance companies. Ins 6.20(1)(1) Purpose. The purpose of this rule is to implement and interpret ch. 620, Stats., for the purpose of establishing procedures and requirements for investments of insurance companies. Ins 6.20(2)(2) Scope. This rule shall apply to all insurers subject to ch. 620, Stats. Ins 6.20(3)(am)(am) “Derivative instrument” has the meaning contained in the accounting practices and procedures manual of the national association of insurance commissioners. “Derivative instrument” includes derivatives embedded within an investment. Ins 6.20(3)(c)(c) “Financial instrument” means a security, currency, or index of a group of securities or currencies. Ins 6.20(3)(e)(e) “Fixed charges” includes interest on all debt, and amortization of debt discount.