As stated above, it is OCI’s current policy that it is appropriate to approve “veterans” upon a company’s submission of that proposed risk category, pursuant to Ins 3.15(4)(b). An alternative to amending 3.15 (4) (a) would therefore be to continue evaluating company submissions individually. It would promote simplicity and uniformity, however, to amend Ins 3.15 (4) (a) to add “veterans” as a recognized risk category.
4. Detailed explanation of statutory authority for the rule (including the statutory citation and language):
Section 600.03 (4), Wis. Stat., sets forth a definition permitting blanket accident and sickness policies. In addition, s. 631.20, Wis. Stat., requires these policies/risks to be approved by OCI. Pursuant to ss. 227.11 (2) (a) and 601.41 (3), Wis. Stat., the Commissioner has the authority to promulgate rules necessary to administer and enforce chs. 600 to 655, Wis. Stat., including authorized categories for blanket accident and sickness coverage. 5. Estimate of amount of time that state employees will spend developing the rule and of other resources necessary to develop the rule:
50 hours
6. List with description of all entities that may be affected by the proposed rule:
Insurers currently offering or seeking to offer blanket accident and sickness insurance to veterans as a group.
7. Summary and preliminary comparison with any existing or proposed federal regulation that is intended to address the activities to be regulated by the proposed rule:
There is no federal law or regulation intended to address this issue.
8. Anticipated economic impact of implementing the rule (note if the rule is likely to have a significant economic impact on small businesses):
This rule will simplify the administration of Ins 3.15 and, for that reason, may have minimal positive economic effects on impacted entities. OCI does not anticipate a significant economic impact on small businesses.
Contact Person:
Attorney Sharone Assa
(608) 264-8129
