16. Adds to the powers of the insurance security fund the authority to negotiate
and contract with other guaranty associations to provide and receive administrative,
claims, and other services that are usual to guaranty associations.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB432,1 1Section 1. 15.165 (3) (b) 9. of the statutes is amended to read:
SB432,3,42 15.165 (3) (b) 9. The commissioner of insurance or an experienced actuary in
3the office of the commissioner designated by the commissioner
the commissioner's
4designee under s. 601.415 (3)
.
SB432,2 5Section 2. 49.45 (12) (a) of the statutes is repealed.
SB432,3 6Section 3. 49.45 (12) (b) of the statutes is amended to read:
SB432,3,137 49.45 (12) (b) If the commissioner of insurance promulgates rules under s.
8601.57 (2), 2021 stats., establishing a health insurance identification card system
9and its computerized support system, the department shall develop a plan to
10coordinate a system of machine-readable identification cards for medical assistance
11recipients with the systems established by the commissioner and shall submit the
12plan to the governor, and to the legislature under s. 13.172 (2), before issuing a
13request for proposals under par. (c).
SB432,4
1Section 4. 601.41 (8) of the statutes is repealed.
SB432,5 2Section 5. 601.41 (10) of the statutes is repealed.
SB432,6 3Section 6. 601.41 (13) of the statutes is created to read:
SB432,4,64 601.41 (13) Interstate regulatory reviews; consultant contracts.
5Notwithstanding ss. 16.70 to 16.78, the commissioner may enter into a contract for
6the services of a consultant if all of the following apply:
SB432,4,87 (a) The office and the insurance department of another state are coordinating
8a review on a regulatory matter.
SB432,4,109 (b) The other state's insurance department has already procured the services
10of the consultant.
SB432,7 11Section 7. 601.415 (3) of the statutes is amended to read:
SB432,4,1512 601.415 (3) Wisconsin retirement board. The commissioner or an experienced
13actuary
the deputy commissioner, chief legal counsel, or chief financial regulator in
14the office designated by the commissioner shall serve as a member of the Wisconsin
15retirement board under s. 15.165 (3) (b).
SB432,8 16Section 8. 601.415 (12) of the statutes is repealed.
SB432,9 17Section 9. 601.465 (1m) (c) 9m. of the statutes is created to read:
SB432,4,1818 601.465 (1m) (c) 9m. The security fund created under ch. 646.
SB432,10 19Section 10. 601.56 of the statutes is repealed.
SB432,11 20Section 11. 601.57 of the statutes is repealed.
SB432,12 21Section 12. 601.63 (2) of the statutes is amended to read:
SB432,5,322 601.63 (2) Notification to agents of revocation of certificate of authority
23of insurer.
Upon issuance of any order limiting, suspending or revoking an insurer's
24authority to do business in this state, the commissioner insurer shall within 10
25business days and by separate written notice
notify by mail all agents of appointed

1with
the insurer of whom and shall provide a copy of the notice to the commissioner
2has record. The commissioner shall also publish a class 1 notice of the order under
3ch. 985
revocation in whatever reasonable form the commissioner designates.
SB432,13 4Section 13. 601.64 (3) (c) of the statutes is renumbered 601.64 (3) (c) 1. and
5amended to read:
SB432,5,106 601.64 (3) (c) 1. Whoever violates an insurance statute or rule or s. 149.13, 2011
7stats., intentionally aids a person in violating an insurance statute or rule or s.
8149.13, 2011 stats., or knowingly permits a person over whom he or she has authority
9to violate an insurance statute or rule or s. 149.13, 2011 stats., shall forfeit to the
10state not more than $1,000 for each violation, except that.
SB432,5,16 112. Notwithstanding subd. 1., whoever violates an insurance statute or rule,
12intentionally aids a person in violating an insurance statute or rule, or knowingly
13permits a person over whom he or she has authority to violate an insurance statute
14or rule shall, if the violation specifically involves a consumer who is an adult at risk,
15as defined in s. 55.01 (1e), or an individual who is at least 60 years of age,
forfeit to
16the state not more than $5,000 for each violation. if any of the following applies:
SB432,5,19 173. If the statute or rule violated under subd. 1. or 2. imposes a duty to make a
18report to the commissioner, each week of delay in complying with the duty is a new
19violation.
SB432,14 20Section 14. 601.64 (3) (c) 2. a., b. and c. of the statutes are created to read:
SB432,5,2221 601.64 (3) (c) 2. a. The violation specifically involves a consumer who is an adult
22at risk, as defined in s. 55.01 (1e).
SB432,5,2423 b. The violation specifically involves an individual who is at least 60 years of
24age.
SB432,5,2525 c. The violation involves or constitutes fraud or misrepresentation.
SB432,15
1Section 15. 609.98 (5) of the statutes is created to read:
SB432,6,42 609.98 (5) Family care program; deposit required. (a) In this subsection,
3“family care program” means the program under ss. 46.2805 to 46.2895 that provides
4the family care benefit, as defined in s. 46.2805 (4).
SB432,6,65 (b) A health maintenance organization participating in the family care
6program is subject to s. 648.75.
SB432,16 7Section 16. 611.12 (5) of the statutes is created to read:
SB432,6,98 611.12 (5) Forum selection provisions. Section 180.0145 applies to stock
9corporations, and s. 181.0163 applies to mutuals.
SB432,17 10Section 17. 628.10 (2) (b) of the statutes is amended to read:
SB432,6,2111 628.10 (2) (b) For other reasons. Except as provided in pars. (c) to (d), after a
12hearing, the commissioner may revoke, suspend, or limit in whole or in part the
13license of any intermediary or individual navigator if the commissioner finds that the
14licensee is unqualified as an intermediary or navigator, is not of good character
15competent or trustworthy under s. 628.04 (1) (b) 2., or has repeatedly or knowingly
16violated an insurance statute or rule or a valid order of the commissioner under s.
17601.41 (4), or if the intermediary's or navigator's methods and practices in the
18conduct of business endanger, or financial resources are inadequate to safeguard, the
19legitimate interests of customers and the public. Nothing in this paragraph limits
20the authority of the commissioner to suspend summarily an intermediary's or
21individual navigator's license under s. 227.51 (3).
SB432,18 22Section 18. 628.92 (5) of the statutes is repealed.
SB432,19 23Section 19. 635.10 of the statutes is repealed.
SB432,20 24Section 20. 646.11 (2) of the statutes is amended to read:
SB432,7,5
1646.11 (2) Accounts. The fund shall be composed of 6 5 segregated accounts,
2one for life insurance, one for and annuities, one for disability insurance other than
3policies issued or coverage provided by a health maintenance organization insurer,
4one for health maintenance organization insurers, one for all other kinds of
5insurance subject to this chapter, and an administrative account.
SB432,21 6Section 21. 646.13 (2) (h) of the statutes is created to read:
SB432,7,97 646.13 (2) (h) Negotiate and contract with other guaranty associations to
8provide and receive administrative, claims, and other services that are usual to
9guaranty associations.
SB432,22 10Section 22. 646.51 (1m) of the statutes is amended to read:
SB432,7,1811 646.51 (1m) Duty to assess. As soon as practicable To meet the board's
12obligations under this chapter,
after a liquidation order has been issued, the board
13shall estimate separately for each of the accounts of s. 646.11 (2) and separately for
14life insurance policies and for annuity contracts in the life insurance and annuities
15account
, the amounts necessary to make the payments provided by this chapter and.
16The board
shall authorize assessments separately for each account and separately
17for life insurance policies and for annuity contracts in the life insurance and
18annuities account
.
SB432,23 19Section 23. 646.51 (3) (am) of the statutes is amended to read:
SB432,7,2420 646.51 (3) (am) General. Except as provided in pars. (ar), (b), and (c), the board
21shall calculate the
assessments shall be calculated as a percentage of premium
22premiums written in this state by each insurer in the classes protected by the
23accounts under s. 646.11 (2) for the year immediately preceding the year in which the
24board authorizes the assessment is authorized by the board.
SB432,24 25Section 24. 646.51 (3) (ar) of the statutes is amended to read:
SB432,8,11
1646.51 (3) (ar) Disability. Except as provided in par. (c), with respect to the
2disability insurance policies, including policies issued by account under s. 646.11 (2)
3and the
health maintenance organization insurers, account under s. 646.11 (2), the
4board shall calculate the
assessments shall be calculated as a percentage of premium
5premiums written in this state by each insurer in the classes protected by the
6accounts for the year immediately preceding the year in which the board authorizes
7the
assessment is authorized by the board. If the assessment data for the year
8immediately preceding the year in which the board authorizes the assessment is
9authorized by the board
is not available when the assessment is called, the fund
10board may use the assessment data for the most recent year for which data is
11available.
SB432,25 12Section 25. 646.51 (3) (b) of the statutes is amended to read:
SB432,8,2313 646.51 (3) (b) Life and annuities. Except as provided in par. (c), with respect
14to annuity contracts or life insurance policies, assessments shall be calculated the
15life insurance and annuities account under s. 646.11 (2), the board shall calculate the
16assessments separately for life insurance policies and for annuity contracts
as a
17percentage of average annual premium premiums received in this state by each
18insurer in the classes protected by the accounts account for the 3 most recent years
19year immediately preceding the year of the entry of the order of liquidation in which
20the board authorizes the assessment. If the assessment data for the year
21immediately preceding the year in which the board authorizes the assessment is not
22available when the assessment is called, the board may use the assessment data for
23the most recent year for which data is available
.
SB432,8,2424 (End)
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