601.46(3)(f)
(f) A list of all revocations of licenses or certificates of authority and the reasons therefor;
601.46(3)(h)
(h) A summary of receipts and expenses, including the information required to be included by
s. 601.45 (4);
601.46(3)(i)
(i) The kind and amount of insurance carried in all state insurance funds under
chs. 604 to
607 together with the amount of premiums collected, the source and nature of any other income, and the disbursements made. The report shall state separately the premiums, losses, the kind and amount of insurance carried on state property, and on other than state property; and
601.46(3)(j)
(j) Such other information on the general conduct and condition of insurers doing business in this state as the commissioner or the governor deems necessary or as is prescribed by law.
601.46(4)
(4) Public inspection. All records and reports shall be open to public inspection unless specifically otherwise provided by statute or by rule.
601.46(5)
(5) Copies of records. The commissioner shall provide to any person on request certified or uncertified copies of any record in the department that is open to public inspection.
601.46(6)
(6) Audits. The commissioner shall reimburse the legislative audit bureau for the cost of audits required to be performed under
s. 13.94 (1) (de).
601.465
601.465
Nondisclosure of information. 601.465(1m)
(1m)
Types of information. The office may refuse to disclose and may prevent any other person from disclosing any of the following:
601.465(1m)(a)
(a) Testimony, reports, records and information that are obtained, produced or created in the course of an inquiry under
s. 601.42.
601.465(1m)(b)
(b) Except as provided in
s. 601.44 (6) to
(10), testimony, reports, records and information that are obtained, produced or created in the course of an examination under
s. 601.43.
601.465(1m)(c)
(c) Testimony, reports, records, communications, and information that are obtained by the office from, or provided by the office to, any of the following, under a pledge of confidentiality or for the purpose of assisting or participating in monitoring activities or in the conduct of an inquiry, investigation, or examination:
601.465(1m)(c)2.
2. An agent or employee of the National Association of Insurance Commissioners.
601.465(1m)(c)4.
4. An agent or employee of the insurance commissioner of another state.
601.465(1m)(c)5.
5. An international, federal, state or local regulatory or law enforcement agency.
601.465(2m)
(2m) Waiver and applicability of the privilege. All of the following apply to the privilege under this section:
601.465(2m)(a)
(a) The privilege may be waived only by the affirmative written and specific consent of the commissioner.
601.465(2m)(c)
(c) The privilege applies to testimony, reports, records, communications, and information obtained, created, or provided by any official, employee, or agent of the office for the purpose of assisting or participating in monitoring activities or in the conduct of an inquiry, investigation, or examination by, or coordinated through, the National Association of Insurance Commissioners.
601.465(2m)(d)
(d) The privilege applies to testimony, reports, records, communications, and information in existence on or after April 9, 2008.
601.465 Cross-reference
Cross-reference: See also s.
Ins 6.13, Wis. adm. code.
601.47(1)(1)
General. The commissioner may prepare books, pamphlets, and other publications relating to insurance and sell them in the manner and at the prices the commissioner determines. The cost of publication and distribution may be paid from the appropriation under
s. 20.145 (1) (g) 1.
601.47(2)
(2) Annual report. The commissioner shall determine the form for the report required in
s. 601.46 (3) and shall have the report published in sufficient quantity to meet all requests for copies. The commissioner shall distribute copies upon request to any person who pays the price determined for the report under
sub. (1).
601.47(3)
(3) Free distribution. The commissioner may furnish free copies of the publications prepared under
subs. (1) and
(2) to public officers and libraries in this state and elsewhere. The cost of free distribution shall be charged to the appropriation under
s. 20.145 (1) (g) 1.
601.48
601.48
Participation in organizations. 601.48(1)
(1)
National Association of Insurance Commissioners. The commissioner and the office of the commissioner shall maintain close relations with the commissioners of other states and shall participate in the activities and affairs of the National Association of Insurance Commissioners and other organizations so far as it will, in the judgment of the commissioner, enhance the purposes of
chs. 600 to
655. The actual and necessary expenses incurred thereby shall be reimbursed out of the appropriation under
s. 20.145 (1) (g) 1.
601.48(2)
(2) Consultation in regulation. The commissioner may exchange information and data and consult with other persons in order to improve and carry out insurance regulation.
601.49
601.49
Access to records. The commissioner shall have access to the records of any agency of the state government or of any political subdivision thereof which the commissioner may wish to consult in discharging his or her duties.
601.49 History
History: 1979 c. 102.
601.51
601.51
Provision of certified copies and notices. 601.51(1)(1)
Certified copies. On request of any insurer authorized to do a surety business and its payment of the fee under
s. 601.31 (1), the commissioner shall mail a certified copy of its certificate of authority to any designated public officer in this state who requires such a certificate before accepting a bond. That public officer shall file it. Whenever a certified copy has been furnished to a public officer it is unnecessary, while the certificate remains effective, to attach a copy of it to any instrument of suretyship filed.
601.51(2)
(2) Notice of revocation of certificate. Whenever the commissioner revokes the certificate of authority of any insurer authorized to do a surety business, the commissioner shall immediately give notice thereof to each officer who was sent a certified copy under
sub. (1).
601.51 Annotation
Legislative Council Note, 1975: This continues the substance of s. 204.04 (1) and (2). [Bill 642-S]
601.53
601.53
Insolvency notices. 601.53(1)(1)
Insurers doing a surety business. Whenever any authorized insurer doing a surety business is placed in liquidation under
ch. 645 or a similar law of another state or jurisdiction, the commissioner shall immediately notify the director of state courts. Upon receipt of the notice, the director of state courts shall notify each register in probate, probate registrar and clerk of circuit court, who shall notify and require every fiduciary that has filed a bond on which the company is surety to file a new bond with a different surety.
601.53(2)
(2) Other. The commissioner as liquidator of an insurer shall send notices as provided in
s. 645.47.
601.53 Annotation
Legislative Council Note, 1975: Sub. (1) continues the substance of s. 204.04 (3). Sub. (2) is new and is a useful cross reference. [Bill 642-S]
601.55
601.55
Nondomestic insurers; additional requirements. If another state or a foreign country requires domestic insurers doing business in that state or foreign country to deposit security, to pay a fee or tax not included in the computation under
s. 76.66, to pay a fine or penalty or to comply with an obligation, prohibition or restriction that is in addition to or greater than requirements imposed by this state on nondomestic insurers doing a similar business in this state, this state may, as a condition for issuing a license to an insurer domiciled in that state or foreign country, impose a similar security requirement, fee, tax, fine, penalty, obligation, prohibition or restriction.
601.55 History
History: 1989 a. 31.
601.56
601.56
Study and rules on standards for health insurers. 601.56(1)(a)(a) The commissioner shall study whether, in their transactions with health care providers, compliance by health insurers with certain standards, such as standard codes, forms and formats, is likely to reduce the cost of health care administration. The study shall investigate compliance with standards in at least all of the following types of transactions between insurers and health care providers:
601.56(1)(b)
(b) On or before February 1, 1994, the commissioner shall submit the results of the study to the legislature under
s. 13.172 (2) and to the governor.
601.56(2)
(2) Rules. If, as a result of the study under
sub. (1), the commissioner determines that in transactions with health care providers compliance by health insurers with certain standards will likely reduce the cost of health care administration, the commissioner shall promulgate rules to establish and implement appropriate standards.
601.56 History
History: 1993 a. 16.
601.57
601.57
Study and rules on health insurance identification cards. 601.57(1)(a)(a) The commissioner, in consultation with the department of health services, shall study the feasibility and cost-effectiveness of requiring every health insurer to issue to its insureds uniform machine-readable health insurance identification cards and to establish a computerized support system for the cards that will accept and respond to electronically conveyed requests from health care providers for information related to an insured, such as eligibility, coverages and authorizations. The study shall consider the feasibility and cost-effectiveness of including the medical assistance program under
subch. IV of ch. 49 in the system of identification cards and the computerized support system and the feasibility of using those systems to coordinate the payment of benefits by health insurers and the medical assistance program.
601.57(1)(b)
(b) On or before February 1, 1994, the commissioner shall submit the results of the study to the legislature under
s. 13.172 (2) and to the governor.
601.57(2)
(2) Rules. If, as a result of the study under
sub. (1), the commissioner determines that a health insurance identification card system and its computerized support system are feasible and would be cost-effective, the commissioner shall promulgate rules to establish and implement the systems.
601.58
601.58
Interstate insurance product regulation compact. The interstate insurance product regulation compact is hereby enacted into law and entered into by this state with all other jurisdictions legally joining therein, in substantially the following form:
601.58(1)
(1) Article I — Purposes. Through means of joint and cooperative action among the compacting states, the purposes of this compact include all of the following:
601.58(1)(a)
(a) To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long-term care insurance products.
601.58(1)(b)
(b) To develop uniform standards for insurance products covered under the compact.
601.58(1)(c)
(c) To establish a central clearinghouse to receive and provide prompt review of insurance products covered under the compact and, in certain cases, advertisements related thereto, submitted by insurers authorized to do business in one or more compacting states.
601.58(1)(d)
(d) To give appropriate regulatory approval to those product filings and advertisements satisfying the applicable uniform standard.
601.58(1)(e)
(e) To improve coordination of regulatory resources and expertise between state insurance departments regarding the setting of uniform standards and review of insurance products covered under the compact.
601.58(1)(f)
(f) To create the interstate insurance product regulation commission.
601.58(1)(g)
(g) To perform these and such other related functions as may be consistent with the state regulation of the business of insurance.
601.58(2)
(2) Article II — Definitions. In this compact:
601.58(2)(a)
(a) "Advertisement" means any material designed to create public interest in a product or to induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace, or retain a policy, as more specifically defined in the rules and operating procedures of the commission.
601.58(2)(b)
(b) "Bylaws" mean those bylaws established by the commission for its governance, or for directing or controlling the commission's actions or conduct.
601.58(2)(c)
(c) "Commission" means the interstate insurance product regulation commission established by this compact.
601.58(2)(d)
(d) "Commissioner" means the chief insurance regulatory official of a state, including, but not limited to, commissioner, superintendent, director, or administrator.
601.58(2)(e)
(e) "Compacting state" means any state that has enacted this compact legislation and that has not withdrawn under
sub. (14) (a) or been terminated under
sub. (14) (g).
601.58(2)(f)
(f) "Domiciliary state" means the state in which an insurer is incorporated or organized; or, in the case of an alien insurer, its state of entry.
601.58(2)(g)
(g) "Insurer" means any entity licensed by a state to issue contracts of insurance for any of the lines of insurance covered by this section.
601.58(2)(h)
(h) "Member" means the person chosen by a compacting state as its representative to the commission, or his or her designee.
601.58(2)(i)
(i) "Noncompacting state" means any state that is not at the time a compacting state.
601.58(2)(j)
(j) "Operating procedures" mean procedures promulgated by the commission implementing a rule, a uniform standard, or a provision of this compact.
601.58(2)(k)
(k) "Product" means the form of a policy or contract, including any application, endorsement, or related form that is attached to and made a part of the policy or contract, and any evidence of coverage or certificate, for an individual or group annuity, life insurance, disability income, or long-term care insurance product that an insurer is authorized to issue.
601.58(2)(L)
(L) "Rule" means a statement of general or particular applicability and future effect promulgated by the commission, including a uniform standard developed under
sub. (7), designed to implement, interpret, or prescribe law or policy or describing the organization, procedure, or practice requirements of the commission, which shall have the force and effect of law in the compacting states.
601.58(2)(m)
(m) "State" means any state, district, or territory of the United States of America.
