The license fee imposed upon each insurance company which issues any insurance policy, which is not a life insurance policy, shall be 12% of the premium actually collected within each calendar quarter, by reason of the issuance of such policies on risks located within the corporate limits of the city on those classes of business which the company is authorized to transact, less all premiums returned to policyholders; however, any license fee or tax imposed upon premium receipts shall not include premiums received for insuring employers against liability for personal injuries to their employees, or the death of their employees, caused thereby, under the provisions of Workers’ Compensation Act, and shall not include premiums received on policies of group, family nor individual health insurance, insurance against flood damage issued under the federal flood insurance program, nor insurance fees paid by municipalities.
(Prior Code, § 117.03) (Ord. 2005-04, passed 6-13-2005)