628.01   Purposes.
628.02   Definitions.
628.03   Requirement of license.
628.04   Issuance of license.
628.05   Licensing of town mutual agents.
628.06   Licensing of fraternal agents.
628.07   Licensing of nonresidents.
628.08   Changes in status of intermediaries.
628.09   Temporary licenses.
628.095   Social security and federal employer identification numbers on applications or at time of fee payment.
628.097   Refusal to issue license; failure to pay support or to comply with subpoena or warrant; tax or unemployment insurance contribution delinquency.
628.10   Termination of license.
628.11   Appointment of agents.
628.12   Liability of surplus lines insurer.
628.31   Sale of insurance through vending machines.
628.32   Disclosure required.
628.34   Unfair marketing practices.
628.345   Prohibited practices during license revocation or surrender.
628.347   Suitability in annuity transactions.
628.348   Sale of long-term care insurance.
628.35   Prohibition of exclusive contracts.
628.36   Limitations on corporations supplying health care services.
628.37   Preservation of professional relationships in professional services.
628.38   Disclosure requirements.
628.39   Extension of credit on premiums.
628.40   Effect of agent's appointment on insurer.
628.46   Timely payment of claims.
628.48   Risk retention groups.
628.49   Regulation of managing general agents, reinsurance brokers and managers and controlling producers.
628.51   Controlled business.
628.61   Sharing commissions.
628.78   Benefit plans for agents.
628.90   Definitions.
628.91   Requirement of licensure or registration.
628.92   Issuance of license and registration.
628.93   Other applicable provisions.
628.95   Navigator and nonnavigator assister conduct.
628.96   Nonnavigator assisters.
628.98   Rules.
Ch. 628 Cross-reference Cross-reference: See definitions in s. 600.03.
Ch. 628 Note NOTE: Chapter 371, laws of 1975, which created this chapter, contains explanatory notes.
subch. I of ch. 628 SUBCHAPTER I
628.01 628.01 Purposes. The purposes of this chapter are:
628.01(1) (1) To encourage improvement in the professional competence of insurance intermediaries;
628.01(2) (2) To provide maximum freedom of marketing methods for insurance, consistent with the interests of the public in this state;
628.01(3) (3) To preserve and encourage competition at the consumer level;
628.01(4) (4) To limit the adverse effects of imperfect competition on the cost of insurance; and
628.01(5) (5) To regulate insurance marketing practices in conformity with the general purposes of chs. 600 to 655.
628.01 History History: 1975 c. 371; 1979 c. 89; 1989 a. 187 s. 29.
628.02 628.02 Definitions. In chs. 600 to 655, unless the context otherwise requires:
628.02(1) (1)Insurance marketing intermediaries.
628.02(1)(a)(a) Activities constituting intermediary. Except as provided under par. (b), a person is an “intermediary" if the person does or assists another in doing any of the following:
628.02(1)(a)1. 1. Solicits, negotiates or places insurance or annuities on behalf of an insurer or a person seeking insurance or annuities; or
628.02(1)(a)2. 2. Advises other persons about insurance needs and coverages.
628.02(1)(b) (b) Exceptions. The following persons are not intermediaries:
628.02(1)(b)1. 1. A regular salaried officer, employee, or other representative of an insurer or licensed intermediary, other than a risk retention group or risk purchasing group, who devotes substantially all working time to activities other than those in par. (a), and who receives no compensation that is directly dependent upon the amount of insurance business obtained.
628.02(1)(b)2. 2. A regular salaried officer or employee of a person seeking to procure insurance, other than for members of a risk purchasing group, who receives no compensation that is directly dependent upon the amount of insurance coverage procured, with respect to such insurance.
628.02(1)(b)3. 3. A person who gives incidental advice in the normal course of a business or professional activity other than insurance consulting if neither the person nor the person's employer receives compensation directly or indirectly on account of any insurance transaction that results from that advice.
628.02(1)(b)4. 4. A person who without special compensation performs incidental services for another at the other's request without providing advice or technical or professional services of a kind normally provided by an intermediary.
628.02(1)(b)5. 5. A holder of a group insurance policy, or any other person involved in mass marketing, with respect to administrative activities in connection with such a policy, if he or she receives no compensation therefor beyond actual expenses, estimated on a reasonable basis.
628.02(1)(b)6. 6. A person who provides information, advice, or service for the principal purpose of reducing loss or the risk of loss.
628.02(1)(b)7. 7. A person who gives advice or assistance without compensation, direct or indirect.
628.02(1)(b)7m. 7m. A person who acts solely as an agent, as defined in s. 616.71 (1).
628.02(1)(b)8. 8. A travel retailer, as defined in s. 632.977 (1) (d), or an employee or authorized representative of a travel retailer, that offers and disseminates, as defined in s. 632.977 (1) (am), travel insurance under s. 632.977.
628.02(1)(b)9. 9. A vendor, as defined in s. 632.975 (1) (i), or an employee or authorized representative of a vendor selling or offering portable electronics insurance under s. 632.975.
628.02(1)(b)9m. 9m. A person whose activities are limited to marketing, selling, or offering for sale a warranty contract, as defined in s. Ins 15.01 (4) (d), Wis. Adm. Code, maintenance agreement, as defined in s. 616.50 (5), or service contract, as defined in s. 616.50 (11).
628.02(3) (3)Insurance broker. An intermediary is an insurance broker if the intermediary acts in the procuring of insurance on behalf of an applicant for insurance or an insured, and does not act on behalf of the insurer except by collecting premiums or performing other ministerial acts.
628.02(4) (4)Insurance agent. An intermediary is an insurance agent if the intermediary acts as an intermediary other than as a broker.
628.02(4g) (4g)Managing general agent. An intermediary is a managing general agent if the intermediary does all of the following:
628.02(4g)(a) (a) Manages all or a portion of the insurance business of an insurer.
628.02(4g)(b) (b) Adjusts claims, negotiates reinsurance for the insurer or is affiliated or associated with a person who adjusts claims or negotiates reinsurance for the insurer.
628.02(4m) (4m)Reinsurance broker. A person is a reinsurance broker if the person solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer.
2015-16 Wisconsin Statutes updated through all Supreme Court and Controlled Substances Board Orders effective on or before January 18, 2017. Published and certified under s. 35.18. Changes effective after January 18, 2017 are designated by NOTES. (Published 1-18-17)