AB4-AA3,1,114
632.32
(5) (i) 2. If a policy contains a provision that reduces the limits for
5uninsured motorist coverage or underinsured motorist coverage as permitted under
6subd. 1., the insurer shall provide notice of the provision and an explanation of the
7effect of the provision to any person who applies for insurance under such a policy.
8If a policy that is in effect before the effective date of this subdivision .... [LRB inserts
9date], does not contain a provision permitted under subd. 1. but will contain such a
10provision when renewed, the insurer shall provide the notice and explanation to one
11insured under the policy in conjunction with the notice of that renewal.
AB4-AA3,2,6
1632.32
(5) (i) 3. The notice and explanation required under subd. 2. must be in
2writing and must include a line or box, or another space, for the applicant or insured
3to check or otherwise indicate that he or she was informed about, and understands
4the effect of, the provision. The notice and explanation may be part of the policy and
5may be made available online. An insurer is required to provide the notice and
6explanation only one time with respect to any one policy.".
AB4-AA3,2,9
8"
Section 26c. 632.32 (6) (g) of the statutes is renumbered 632.32 (5) (i) 1., and
9632.32 (5) (i) 1. (intro.), as renumbered, is amended to read:
AB4-AA3,2,1310
632.32
(5) (i) 1. (intro.)
No A policy may provide that the limits under the policy
11for uninsured motorist coverage or underinsured motorist coverage for bodily injury
12or death resulting from any one accident shall be reduced by any of the following that
13apply:".