Statutory authority: ss. 601.41, 601.42, 628.34 (12), 628.38, 631.01 and 631.20

Statutes interpreted: ss. 601.41, 601.42, 628.34 (12), 628.38, 631.01 and 631.20

This rule is identical in content to the National Association of Insurance Commissioners (“NAIC”) Model Regulation adopted on December 4, 1995. The purpose of this rule is to protect consumers and foster consumer education by providing standardized formats for illustrating life insurance policies.

Notice of Hearing

Commissioner of Insurance

The Commissioner of Insurance, pursuant to the authority granted under s. 601.41 (3), Stats., and according to the procedures under s. 227.18, Stats., will hold a public hearing at the time and place indicated below, or as soon thereafter as the matter may be reached, to consider the creation of ch. Ins 23, Wis. Adm. Code, relating to life insurance sold to fund prearranged funeral plans.

Hearing Information

January 7, 1997   Room 23

Tuesday   121 East Wilson St.

10:00 a.m.   MADISON, WI

This hearing site is fully accessible to people with disabilities.

Fiscal Estimate

There will be no state or local government fiscal effect.

Initial Regulatory Flexibility Analysis

Notice is hereby further given that pursuant to s. 227.114, Stats., the proposed rule may have an impact on small businesses. The initial regulatory flexibility analysis is as follows:

a. Types of small businesses affected: Insurance agents and funeral establishments.

b. Description of reporting and bookkeeping procedures required: None beyond those currently required.

c. Description of professional skills required: None beyond those currently required.

Contact Person

A copy of the text of the proposed rule and fiscal estimate may be obtained from:

Meg Gunderson, Services Section

Telephone [phone]

Office of the Commissioner of Insurance

121 East Wilson Street

P. O. Box 7873

Madison, WI 53707-7873