LICENSING OF INTERMEDIARIES
Requirement of license.
Issuance of license.
Licensing of town mutual agents.
Licensing of fraternal agents.
Licensing of nonresidents.
Changes in status of intermediaries.
Social security and federal employer identification numbers on license applications or at time of fee payment.
Refusal to issue license; failure to pay support or to comply with subpoena or warrant; tax delinquency.
Termination of license.
Listing of insurance agents.
Liability of surplus lines insurer.
Sale of insurance through vending machines.
Unfair marketing practices.
Prohibited practices during license revocation or surrender.
Suitability of annuity sales to senior consumers.
Prohibition of exclusive contracts.
Limitations on corporations supplying health care services.
Preservation of professional relationships in professional services.
Extension of credit on premiums.
Effect of agent's appointment on insurer.
Timely payment of claims.
Risk retention groups.
Regulation of managing general agents, reinsurance brokers and managers and controlling producers.
COMPENSATION OF INTERMEDIARIES
Benefit plans for agents.
Filing of commission rates paid to agents and brokers.
Ch. 628 Cross-reference
See definitions in s. 600.03
Ch. 628 Note
NOTE: Chapter 371, laws of 1975
, which created this chapter of the statutes, contains notes explaining the revision.
The purposes of this chapter are:
To encourage improvement in the professional competence of insurance intermediaries;
To provide maximum freedom of marketing methods for insurance, consistent with the interests of the public in this state;
To preserve and encourage competition at the consumer level;
To limit the adverse effects of imperfect competition on the cost of insurance; and
To regulate insurance marketing practices in conformity with the general purposes of chs. 600
In chs. 600
, unless the context otherwise requires:
(1) Insurance marketing intermediaries. 628.02(1)(a)(a)
Activities constituting intermediary.
Except as provided under par. (b)
, a person is an "intermediary" if the person does or assists another in doing any of the following:
Solicits, negotiates or places insurance or annuities on behalf of an insurer or a person seeking insurance or annuities; or
Advises other persons about insurance needs and coverages.