610.001 Purposes. The purposes of chs. 611 to 616 are: (1) To provide an orderly procedure by which insurers may be created, governed and dissolved; (2) To provide for procedures to merge, consolidate or convert various kinds of insurers; (3) To provide for structure and management that will maximize democratic participation in the operation of […]
610.01 Definitions. In chs. 610 to 620 and 644, unless the context requires otherwise: (1) “Director” includes “trustee”. (2) “Officer” does not include “director”. (3) “Promoter stock” means shares issued by a domestic stock corporation under ss. 611.18 (2) (a) 2. and 611.32 (1), and shares issued within 5 years after the initial issuance of […]
610.11 Qualified insurers. No person may do an insurance business as defined in s. 618.02 (2) on the person’s own account in this state, either in person, or through agents or brokers, or through the mail or any other method of communication, except: (1) An insurer authorized to do business in this state, within the […]
610.21 Other business. (1) Prohibition for domestic insurers. No domestic insurer may engage, directly or indirectly, in any business other than insurance and business reasonably incidental to its insurance business, except as specifically authorized by s. 611.26 (4), 611.26 (4) as incorporated by s. 614.24 (1), or s. 613.26 or any other provision of chs. […]
610.23 Power to hold property in other than own name. An insurer shall hold all investments and deposits of its funds in its own name except that: (1) Custodial or trust arrangements. Securities kept under a custodial agreement or trust arrangement with a bank or banking and trust company may be issued in the name […]
610.24 Insurers as fundholders. All assets shall be held, invested and disbursed for the use and benefit of the insurer and no policyholder, member or beneficiary may have or acquire individual rights in such assets or become entitled to any apportionment or the surrender of any part of such assets, except as provided in the […]
610.40 Continued effect of transitional provisions. Sections 610.41 to 610.53, 1981 stats., continue to apply to insurers affected by those sections before April 27, 1984. History: 1983 a. 215.
610.50 Vital records. An insurer or an employee, agent or attorney of an insurer is not subject to s. 69.24 (1) (a) for copying a certified copy of a vital record for the insurer’s own internal administrative use in connection with the payment of insurance claims or benefits if the copy is marked “FOR ADMINISTRATIVE […]
610.60 Electronic delivery of notices and documents. (1) Definitions. In this section: (a) “Applicable law” means applicable statutory law and rules and regulations having the force of law. (b) “Deliver by electronic means” includes any of the following: 1. Delivery to an electronic mail address at which a party has consented to receive notices or […]
610.61 Duty of life insurers to report abandoned property. An insurer doing a life insurance business shall report under subch. IV of ch. 177 any property presumed abandoned under subch. II of ch. 177. History: 1979 c. 102; 1983 a. 408 s. 16; 2021 a. 87.
610.65 Uniform claim processing form. Beginning no later than July 1, 2004, every insurer shall use the uniform claim processing form developed by the commissioner under s. 601.41 (9) (b) when processing a claim submitted by a health care provider, as defined in s. 146.81 (1) (a) to (p). History: 2001 a. 109; 2009 a. […]
610.70 Disclosure of personal medical information. (1) Definitions. In this section: (a) “Health care provider” means any person licensed, registered, permitted or certified by the department of health services or the department of safety and professional services to provide health care services, items or supplies in this state. (b) “Individual” means a natural person who […]
610.80 Corporate governance annual disclosure. (1) Definitions. In this section: (a) “Insurance holding company system” has the meaning given in s. 622.03 (2). (b) “Insurer” has the meaning given in s. 622.03 (3). (c) “Lead state” has the meaning given in s. 622.03 (4). (2) Disclosure requirement. (a) An insurer or insurance holding company system […]
