(i) In general, geographic place or an organization through which specified types of commerce can be conducted without paying the tariffs or taxes which otherwise would be applicable to that commerce; that is, a zone where trade is free of governmental charges. (ii) In Insurance, a free trade zone is a facility through which Insurers can negotiate with potential insured for coverage on mutually agreeable terms and can enter into Insurance contracts without having to pay premium taxes which would otherwise be imposed.