INSURANCE SECURITY FUND
Scope and purposes.
Organization and administration of fund.
Administration of the fund.
Special duties and powers of the fund related to loss claims.
Proceedings involving insurers.
Payment of deposits made for benefit of creditors.
Custody and investment of assets.
Appeal and review.
Recovery of amounts paid to 3rd parties.
Subrogation and cooperation.
Continuation of coverage.
Claims by security funds.
Disposal and transfer of assets.
Ch. 646 Cross-reference
See definitions in ss. 600.03
Ch. 646 Note
NOTE: Chapter 109, laws of 1979
, which repealed and recreated this chapter, contained notes explaining the revision.
Scope and purposes. 646.01(1)(a)1.
All kinds and lines of direct insurance, except as provided in par. (b)
All insurers authorized to do business in this state except:
Fraternals that are not health maintenance organization insurers.
Service insurance corporations that offer only dental or vision care.
Nondomestic insurers that have not obtained a certificate of authority to do business in this state and that are doing business under s. 618.41
Effective date note
Subdpar. k. is shown as amended eff. 1-1-15 by 2013 Wis. Act 20
. Prior to 1-1-15 it reads:
k. Risk-sharing plans under chs. 149 and 619.
This chapter does not apply to any of the following:
Any portion of a life insurance policy or annuity contract that is not guaranteed by the insurer or under which the risk is borne by the policy or policyholder.
Surety bonds, fidelity bonds and any other bonding obligations.
Mortgage guaranty, financial guaranty and other forms of insurance offering protection against investment risks.
Product liability or completed operations liability insurance, and comprehensive general liability including either of these coverages, provided to a risk purchasing group or a member of a risk purchasing group.
Any self-funded, self-insured, or partially or wholly uninsured plan of an employer or other person to provide life insurance, annuity, or disability benefits to its employees or members to the extent that the plan is self-funded, self-insured, or uninsured.
Any liability for dividends or experience rating credits payable after the date of entry of the order of liquidation under an insurance or annuity contract, and any fees or allowances due any person, including the policyholder, in connection with service to or administration of the contract.
Any contractual liability policy that is issued to a warrantor, warranty plan, warranty plan administrator, or service contract provider and that provides coverage of any liability or performance arising out of or in connection with a warranty or service contract.