618.40 – Definitions.
618.40 Definitions. In this subchapter, unless the context requires otherwise: (1) “Affiliated group” means all persons that control, are controlled by, or are under common control with, an insured. (2) “Authorized insurer” means an insurer that is licensed, or authorized, to transact the business of insurance under the law of the home state. (3) “Control” […]
618.41 – Surplus lines insurance.
618.41 Surplus lines insurance. (1) General permission. A domestic surplus lines insurer or a nondomestic insurer which has not obtained a certificate of authority to do business in this state under s. 618.12 may negotiate for and make insurance contracts with persons in this state and on risks located in this state, subject to the […]
618.415 – Group liability insurance issued by an unauthorized insurer.
618.415 Group liability insurance issued by an unauthorized insurer. (1) Notice before taking application. A person may not take an application for liability insurance coverage under a group liability insurance policy which is issued by an unauthorized insurer and which is for a risk that resides or is otherwise located in this state, unless before […]
618.32 – Transfer of business.
618.32 Transfer of business. (1) Report to commissioner. Any action by which a nondomestic insurer proposes to transfer to another person or to reinsure any part of its insurance business in this state, other than in the normal and usual course of business, shall be reported to the commissioner not less than 30 days in […]
618.34 – Assessment by nondomestic company.
618.34 Assessment by nondomestic company. Every nondomestic mutual insurer authorized in this state shall, immediately after making an assessment upon any of its members in this state, notify the commissioner thereof with a statement of the condition of the insurer, setting forth the facts showing the necessity for the assessment. No such insurer may make […]
618.36 – Release from regulation.
618.36 Release from regulation. (1) Continuance of regulation. A nondomestic insurer authorized under this chapter is subject to regulation under the applicable provisions of chs. 600 to 646 until released from regulation under this section. (2) Application for release. A nondomestic insurer may apply for release from regulation by filing with the commissioner: (a) Its […]
618.37 – Revocation of certificate of authority.
618.37 Revocation of certificate of authority. Whenever there are grounds for delinquency proceedings against a nondomestic insurer under ch. 645, the commissioner may, after a hearing, revoke, suspend or limit its certificate of authority. No such action shall affect insurance already issued and the insurer shall remain subject to regulation until released under s. 618.36. […]
618.39 – Assisting unauthorized insurers.
618.39 Assisting unauthorized insurers. (1) Conduct prohibited. No person may do an insurance business in this state if the person knows or should know that the result is or might be the illegal placement of insurance with an unauthorized insurer or the subsequent servicing of an insurance policy illegally placed with an unauthorized insurer. (2) […]
618.24 – Requirements for incorporated alien insurers.
618.24 Requirements for incorporated alien insurers. (1) Conditions for authorization. No incorporated alien insurer may be authorized to do business in this state unless: (a) It has operated for 5 years in its domicile or the commissioner finds other grounds for being confident that it will be solid during its formative period; (b) It supplies […]
618.25 – Requirements for unincorporated nondomestic insurers.
618.25 Requirements for unincorporated nondomestic insurers. No nondomestic individual underwriter or syndicate may be authorized to do business in this state unless: (1) It complies with such requirements stated in s. 618.24 as are applicable to an unincorporated insurer; (2) It files undertakings with the commissioner to comply with legal controls and institutional practices for […]