reglab/statecodes huggingface dataset:
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 25 - Privacy Of Consumer Financial And Health Information › Subchapter V - Health Information › Section Ins 25.80 - Insurers and agents compliance with s. 610.70, Stats

Current through June 24, 2024
(1) An insurer that
				is subject to s.
				610.70,
				Stats., or an intermediary acting solely as an agent of an insurer subject to
				s.
				610.70,
				Stats., with respect to health information is not required to comply with this
				subchapter. An insurer is responsible for the acts or omissions of its agents
				that constitute violations of s.
				610.70,
				Stats.
(2) For the purposes of s.
				610.70(1)
				(d), Stats., "insurance that is primarily for
				personal, family or household purposes" includes group or individual health
				insurance policies and personal automobile, homeowners, disability and life
				policies. It does not include workers' compensation or commercial property and
				casualty policies.
(3) Nothing in
				this chapter or s.
				610.70,
				Stats., restricts disclosure of nonpublic personal health information permitted
				under s.
				102.13,
				Stats.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 25 - Privacy Of Consumer Financial And Health Information › Subchapter VI - Additional Provisions › Section Ins 25.90 - Nondiscrimination

Current through June 24, 2024
(1) A licensee shall not unfairly
				discriminate against any consumer or customer because that consumer or customer
				has opted out from the disclosure of his or her nonpublic personal financial
				information pursuant to the provisions of this chapter.
(2) A licensee shall not unfairly
				discriminate against a consumer or customer because that consumer or customer
				has not granted authorization for the disclosure of his or her nonpublic
				personal health information pursuant to the provisions of this
				chapter.
(3) Failure to provide an
				insurance product or service based on usual and customary insurance
				underwriting practices and standards is not unfair discrimination under this
				section, even if such failure is the result of a consumer or customer's refusal
				to authorize the disclosure of his or her nonpublic personal
				information.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 25 - Privacy Of Consumer Financial And Health Information › Subchapter VI - Additional Provisions › Section Ins 25.95 - Effective date

Current through June 24, 2024
(1) APPLICABILITY. Enforcement under section
				505 of the Gramm-Leach-Bliley Act (
				PL
				102-106 ) is effective only on and after the
				effective date of this rule.
(2)
				PHASE IN.
(a) Phased in notice requirement for
				consumers who are the licensee's customers on the compliance date. Beginning on
				the first day of the fourth month commencing after the after publication of
				this rule and by not later than June 30, 2002 a licensee shall provide an
				initial notice, as required by s.
				Ins
				25.10, to consumers who are the licensee's customers
				on the first day of the fourth month commencing after the after publication of
				this rule.
(b) Example. A licensee
				provides an initial notice to consumers who are its customers on the first day
				of the fourth month commencing after the after publication of this rule, if, by
				that date, the licensee has established a system for providing an initial
				notice to all new customers and if by June 30, 2002 the licensee has mailed the
				initial notice to all the licensee's existing customers.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.01 - Purpose

Current through June 24, 2024
The commissioner of insurance finds that prelicensing education
				should be required of all insurance applicants for major lines of insurance.
				This requirement will assist in assuring that insurance agents receive needed
				information regarding insurance, insurance ethics, and sales
				practices.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.03 - Definitions

Current through June 24, 2024
(1) "Accredited institution of higher
			 education" means a law school accredited by the American bar association or
			 other schools accredited by any accrediting commission or association which has
			 been recognized by the U.S. Department of Education.
(2) "Certificate of prelicensing education"
			 means a completed form as described in Appendix 5.
(3) "Credit course" means a course which can
			 be applied toward an associate degree or higher degree at an accredited
			 institution of higher education.
(3m) "Credit hour" means a period of study,
			 included as a part of a course, consisting of no less than 50 minutes of
			 classroom instruction, or 4,500 words per credit hour for correspondence,
			 self-study, audio or video courses, or on-line courses.
(4) "Evidence of attendance" means an
			 official transcript, student grade report, or commissioner-approved certificate
			 showing satisfactory completion of educational programs or training
			 sessions.
(5) "Exemption request"
			 means a completed request as prescribed by the commissioner.
(6) "Noncredit program" means an educational
			 program or training session which does not satisfy the requirements for an
			 associate degree or higher education degree at the entity offering the
			 educational program or training session.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.05 - Requirements for approval of certification of attendance at credit courses

Current through June 24, 2024
(1) APPROVAL OF CREDIT COURSES. An accredited
			 institution of higher education seeking initial approval or reapproval of
			 individual credit courses shall submit its application for course approval in a
			 manner prescribed by the commissioner. The commissioner may require the
			 following information and materials:
(a) The
			 name of the department in the school which is offering the courses;
(b) The method of instruction for each
			 course;
(c) The course numbers and
			 titles;
(d) Detailed outlines of
			 each course with specific allocations of class room hours to each topic showing
			 the minimum time allocated to the topics as described in appendices 1 through
			 4;
(e) A current school course
			 catalogue;
(f) Evidence of prior
			 approval or exemption by the Wisconsin educational approval board, if required
			 by s.
			 440.52,
			 Stats.; and
(g) Other information
			 as specified by the commissioner.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.06 - Requirements for approval of certification of attendance at noncredit programs

Current through June 24, 2024
(1) APPROVAL OF NONCREDIT EDUCATIONAL
			 PROGRAMS. An entity seeking initial approval or reapproval from the
			 commissioner of an insurance noncredit program shall submit an application in a
			 manner prescribed by the commissioner. The commissioner may require the
			 following information and materials:
(a)
			 Evidence of prior approval or exemption by the Wisconsin educational approval
			 board, if required by s.
			 440.52,
			 Stats.;
(b) A description of the
			 qualifications of each instructor and the subject matter the instructor will be
			 teaching. Instructors of noncredit programs shall be approved by the
			 commissioner. Instructors shall meet the criteria set forth in sub. (2)
			 (b);
(c) Listing of the noncredit
			 program's organizational structure, registration policies, fee schedules and
			 promotional material, for the school;
(d) Detailed outlines of the subject matter
			 to be covered by the program with specific allocations of classroom,
			 correspondence, self-study, or on-line hours to each topic meeting the minimum
			 standards as set forth in appendices 1 through 4. This should include a
			 description of textbooks, workbooks and other instructional materials. The
			 operator of a noncredit program shall provide section A and section B. Each
			 must be provided as a separate and discrete segment. Each section can be broken
			 up into subsections as long as no other insurance-related instruction is
			 provided by the noncredit program between the subsections;
(e) A description of the student record
			 systems including a description of the methods for documenting
			 attendance;
(f) The method used by
			 the noncredit program for evaluating instructors and a summary of previous
			 evaluations conducted;
(g) The
			 time, date, and location of each noncredit classroom program. The commissioner
			 may allow a noncredit program to apply for initial approval without specific
			 information concerning dates, times, locations, and instructors, but the
			 noncredit program shall provide this information in a format prescribed by the
			 commissioner no later than 30 days prior to the start of the course;
(h) An original signature of the person
			 authorized to sign certifications; and
(i) Other information as specified by the
			 commissioner.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.07 - Evidence of attendance for noncredit classroom, correspondence, self-study, or on-line programs

Current through June 24, 2024
(1)
(a)
			 Noncredit classroom, correspondence, self-study, audio, video or on-line
			 programs shall provide an original certificate of prelicensing education to
			 each student upon satisfactory completion of a noncredit program. Additional
			 individual certificates of prelicensing education shall be provided to a
			 student upon request and at no additional charge.
(b) Certificates of prelicensing education
			 shall contain the minimum wording and format as prescribed by appendix
			 5.
(c) Certificates of prelicensing
			 education shall be signed by authorized persons whose signatures are on file
			 with the commissioner.
(d) The date
			 indicated on certificates of prelicensing education shall be the date of the
			 last class for section B in appendices 1 to 4 attended by the
			 student.
(e) Certificates of
			 prelicensing education shall be provided to each student in hard copy or
			 electronically.
(f) The student
			 needs to take section A of appendices 1 to 4 only once. If the student takes
			 only section B of the requirements, the instructor shall verify that the
			 student completed section A at any approved prelicensing school within one year
			 before issuing a certificate.
(g)
			 Certificates shall only be given to a student after the instructor verifies the
			 identity of the student using a picture identification card. If the instructor
			 uses a form of identification other than Wisconsin driver's license or
			 Wisconsin ID card, the instructor shall note the form of identification used on
			 the certificate of prelicensing education.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.08 - Attendance requirements for noncredit programs

Current through June 24, 2024
Students shall attend all of the required hours and receive all
				the required contents before a certificate of prelicensing education may be
				granted for satisfying any of the requirements in s.
				Ins
				26.04. Noncredit classroom programs may make
				arrangements for make-up classes covering the same material as the class missed
				to enable students to meet the educational requirements. All prelicensing
				requirements must be completed prior to taking the licensing
				examination.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.09 - Correspondence courses

Current through June 24, 2024
(1) Correspondence, self-study, audio, video,
			 and on-line courses may be approved if they meet the criteria under s.
			 Ins
			 26.06 and the subsequent course requirements in
			 appendices 1 to 4, and include successful completion of a certified proctored
			 examination.
(2) The examination
			 shall consist of a minimum of 25 questions for section A and 50 questions each
			 for Section B of each line of authority identified in ch. Ins 26, appendices 1
			 to 4. A passing score of 70% or greater is required on each
			 examination.
(3) An approved
			 proctor is an impartial, disinterested third party or currently licensed agent
			 with no family or financial relationship to the student. The proctor shall
			 verify the applicant's identity and complete an affidavit supplied by the
			 approved provider testifying that the applicant received no outside assistance.
			 Membership in a professional association or organization does not constitute a
			 financial relationship.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Section Ins 26.10 - Investigation and review

Current through June 24, 2024
(1) The
			 commissioner or a duly appointed representative shall investigate and review
			 all applications and may investigate or examine previously approved programs,
			 courses, and instructors. The method and timing of the reviews shall be
			 determined by the commissioner in each case and may consist of the following:
(a) Consideration of information available
			 from state, federal, or local agencies, private organizations or agencies, or
			 interested persons.
(b) Conferences
			 with officials, representatives, and former students of the school
			 involved.
(c) A public hearing
			 respecting the noncredit program, course, or instructor involved, with adequate
			 written notice to the school, instructor, or both.
(d) Investigation by visitation without
			 notice to the noncredit program.
(e) Information furnished by the applicant
			 with its application for approval.
(f) Any other information the commissioner or
			 representative deems relative to the investigation.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 26 - Prelicensing Education › Appendix 5 - Certificate of prelicensing education

Current through June 24, 2024
I hereby certify that ( name ) has completed a prelicensing
				educational course which complies with the requirements in ch. Ins 26, Wis.
				Adm. Code, for the insurance line of (life) (accident & health) (property)
				(casualty) (Personal Lines P&C). The last day of class or completion of the
				required examination(s) for section B of the identified course(s) was (date) .
				I have verified the identification of this applicant by using:
*
A Wisconsin driver's license
*
A Wisconsin identification card
*
Other (please describe)
Authorized Representative
Date Name of Program
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.01 - Purpose

Current through June 24, 2024
To provide necessary information regarding insurance, insurance
				ethics and insurance laws, the commissioner of insurance finds that continuing
				education shall be required of all resident insurance intermediaries for the
				major lines of insurance of property, casualty, life, accident and health
				insurance, and the limited line of automobile.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.03 - Definitions

Current through June 24, 2024
In this chapter:
(1)
			 "Certificate of Continuing Education" means a document substantially in the
			 form described in Appendix 1.
(2)
			 "Course" means a program of study submitted to, and approved by, the
			 commissioner under this chapter.
(3) "Credit hour" means a period of study,
			 included as a part of a course, consisting of no less than 50 minutes of
			 classroom instruction, or 4,500 words per credit hour for correspondence,
			 self-study, or on-line courses.
(3m) "Home state" means the District of
			 Columbia and any state or territory of the United States in which an insurance
			 producer maintains his or her principal place of residence or principal place
			 of business and is licensed to act as an insurance producer.
(4) "Provider" means an entity that is
			 approved to teach courses under s.
			 Ins
			 28.06.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.04 - Continuing education requirement

Current through June 24, 2024
(1)
(a) Each intermediary licensed in any of the
			 major lines listed in s.
			 Ins
			 6.50(2) (a) and the grandfathered
			 limited line of automobile shall biennially complete 24 credit hours of
			 continuing education approved by the commissioner in accordance with this
			 chapter and with at least 3 of the 24 credit hours covering ethics in
			 insurance.
(b) On or before the
			 last day of the agent's license expiration date every resident-intermediary
			 agent shall furnish evidence to the commissioner in a manner prescribed by the
			 commissioner that 24 credit hours of continuing education, of which at least 3
			 credit hours must be in the ethics of insurance, have been completed.
(c) Intermediaries may fulfill the continuing
			 education requirements by earning the required credit hours from courses taught
			 in any or all of the major lines and the limited line of automobile.
(d) Excess credit hours accumulated during
			 any reporting period may not be carried forward to the next reporting period.
			 Courses are counted and banked in the order they are completed.
(e) An instructor of an approved continuing
			 education course may receive the same number of credit hours as a person
			 enrolled in the course for the purpose of meeting the requirements of this
			 section. Intermediaries and instructors may receive credit hours for attending
			 or teaching the same course only once during any biennium.
(f) Not less than 60 days prior to the
			 reporting date set forth in par. (b) of each reporting period, the commissioner
			 shall provide each intermediary with a renewal notice containing instructions
			 for the intermediary to review his or her education transcript for
			 compliance.
(g) If the required
			 credit hours are not banked by the license expiration date set forth in par.
			 (b), the license of the intermediary shall terminate on the license expiration
			 date.
(h) Any individual
			 intermediary whose license has terminated for failure to fulfill the continuing
			 education requirement, shall, in order to be relicensed, satisfy the licensing
			 requirements established by ss.
			 Ins
			 6.59 and 6.63.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.05 - Waiver of continuing education requirements

Current through June 24, 2024
The requirements of this section may be waived in writing by
				the commissioner for good cause shown. "Good cause" includes long-term illness
				or incapacity, serving full-time in the armed forces of the United States of
				America on active duty outside of the state of Wisconsin during a substantial
				part of the biennium, and other emergency situations deemed appropriate by the
				commissioner. Requests for waivers of continuing education requirements shall
				be made in a manner prescribed by the commissioner, and shall be submitted to
				the commissioner no later than 90 days prior to the end of the biennium for
				which such waiver is requested. Within 30 days of receipt, the commissioner
				shall act upon the waiver request and provide written notice of the decision to
				the applicant. Any waiver granted pursuant to this section shall be valid only
				for the biennium for which waiver application was made.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.06 - Requirements for approval of continuing education providers and courses

Current through June 24, 2024
(1)
			 LICENSING OF CONTINUING EDUCATION PROVIDERS. An entity or individual seeking
			 initial approval or reapproval from the commissioner as a continuing education
			 provider shall submit an application in a manner prescribed by the
			 commissioner. The commissioner may require the following information and
			 materials:
(b) A description of the
			 experience and education that the applicant believes qualifies the applicant to
			 be a provider;
(c) A description of
			 the provider's organizational structure, registration policies, fee schedules,
			 and promotional materials;
(d) A
			 description of the provider's student record systems including a description of
			 the methods for documenting attendance;
(e) The method used by the provider for
			 evaluating instructors;
(f) An
			 original signature of the person or persons authorized to sign
			 certifications;
(g) A certificate
			 format that the applicant proposes to use to comply with Appendix 1;
			 and
(h) Other information as
			 specified by the commissioner.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.07 - Evidence of attendance for continuing education courses

Current through June 24, 2024
(1)
(a) Providers shall provide an original
			 certificate of continuing education to each intermediary within a reasonable
			 period after completion of a continuing education course. Original certificates
			 may be provided electronically unless a hard copy is requested by the
			 intermediary. One additional original individual certificate of continuing
			 education shall be provided to a student upon request and at no additional
			 charge. Every intermediary shall maintain a record of all courses attended by
			 keeping the original certificates of completion for 4 years after the end of
			 the year of attendance.
(b)
			 Certificates of continuing education shall be issued on company letterhead to
			 each agent completing an approved course and shall contain the agent's name,
			 National Producer Number, course title and number, date the course was
			 completed, number of approved credit hours, name of provider and provider
			 license number, signature of authorized provider representative, and the date
			 issued in a form acceptable to the commissioner.
(c) Certificates of continuing education
			 shall be signed by authorized provider representatives whose signatures are on
			 file with the commissioner.
(d) The
			 date indicated on the certificate of continuing education shall be the date of
			 the class attended by the student, or on the date on which the intermediary
			 successfully completed an examination for courses identified in s.
			 Ins
			 26.06(2) (b) 4., 5., and 6.
(e) Intermediaries shall not claim credit for
			 any course [for] which they did not attend all required credit hours or
			 complete all requirements.
(f)
			 Intermediaries may not claim credit for prelicensing education currently
			 approved as a continuing education course to be applied toward their continuing
			 education requirements for an original license. Individuals may receive credit
			 if they are adding qualifications to an existing license and the provider and
			 course has been approved for continuing education credit.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.08 - Correspondence courses

Current through June 24, 2024
(1) Correspondence, self-study, audio or
			 video, and on-line training courses may be approved if they meet the criteria
			 under s.
			 Ins
			 28.06(6) and include successful
			 completion of a certified proctored examination.
(2) The examination shall consist of a
			 minimum of 25 questions for courses approved for 3 or less credit hours, and a
			 minimum of 50 questions for courses approved for more than 3 credit hours. A
			 passing score of 70% or greater is required.
(3) An approved proctor is an impartial,
			 disinterested third party or currently licensed agent with no family or
			 financial relationship to the student. The proctor shall verify the agent's
			 identity and complete an affidavit supplied by the approved provider testifying
			 that the agent received no outside assistance. Membership in a professional
			 association/organization does not constitute a financial
			 relationship.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 28 - Continuing Education › Section Ins 28.10 - Investigation and review

Current through June 24, 2024
(1) The
			 commissioner, or a duly appointed representative, shall investigate and review
			 all provider and course applications and may investigate or examine previously
			 approved providers, courses, and instructors. The method and timing of the
			 reviews shall be determined by the commissioner in each case and may consist of
			 any of the following:
(a) Consideration of
			 information available from state, federal, or local agencies, private
			 organizations or agencies, or interested persons.
(b) Conferences with officials,
			 representatives, and former students of the provider involved.
(c) A public hearing respecting the program,
			 course, or instructor involved, with adequate written notice to the provider,
			 instructor, or both.
(d)
			 Investigation by visitation without notice to the provider.
(e) Information furnished by the applicant
			 with any application for approval.
(f) Any other information the commissioner or
			 representative deems relevant to the investigation.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.01 - Definitions

Current through June 24, 2024
In this chapter, unless the context otherwise
				  requires:
(1) "Acquiring person" means
				each person by whom or on whose behalf a merger or other acquisition of control
				is to be effected.
(2) "Affiliate"
				has the meaning provided under s.
				600.03(1),
				Stats.
(3) "Commissioner" means the
				commissioner of insurance of this state, the deputy commissioner, or the office
				of the commissioner of insurance of this state, as appropriate.
(4) "Control" has the meaning provided under
				s.
				600.03(13),
				Stats.
(4m) "Enterprise risk" has
				the meaning provided under s.
				617.12(1),
				Stats.
(5) "Executive officer"
				means chief executive officer, chief operating officer, chief financial
				officer, treasurer, secretary, controller, and any other individual performing
				functions corresponding to those performed by one of those positions under
				whatever title.
(5g) "Group capital
				calculation instructions" means the group capital calculation instructions as
				adopted by the NAIC and as amended by the NAIC in accordance with the
				procedures adopted by the NAIC.
(5m) "Group-wide supervisor" means the
				regulatory official who is authorized to conduct and coordinate group-wide
				supervision activities and who is determined or acknowledged by the
				commissioner to have sufficient significant contacts with the internationally
				active insurance group.
(6)
				"Insurance holding company system" means 2 or more persons who are affiliates,
				one or more of which is an insurer.
(7) "Insurer" has the meaning provided under
				s.
				600.03(27),
				Stats., except that it does not include agencies, authorities or
				instrumentalities of the United States, its possessions and territories, the
				Commonwealth of Puerto Rico, the District of Columbia, or a state or political
				subdivision of a state.
(7m)
				"Internationally active insurance group" means an insurance holding company
				system that includes an insurer registered consistent with s. Ins 40.03 and all
				the following:
(a) Premiums written in at
				least three countries.
(b) The
				percentage of gross premiums written outside the United States is at least 10
				percent of the insurance holding company's total gross written
				premiums.
(c) Based on a 3-year
				rolling average, either the total assets of the insurance holding company
				system are at least $50 billion, or the total gross written premiums of the
				insurance holding company system are at least $10 billion.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.02 - Acquisition of control of or merger with domestic insurer or divestiture of the shares of a domestic insurer

Current through June 24, 2024
(1) FILING
				REQUIREMENTS.
(a) Except as provided under
				par. (b), no person, other than the insurer, may:
1. Make a tender offer for, request or
				invitation for, tenders of, divestiture of, or enter into any agreement to
				exchange securities for, seek to acquire, or acquire, in the open market or
				otherwise, any voting security of a domestic insurer if after the consummation
				of the offer, request, invitation, agreement or acquisition, the person would,
				directly or indirectly, or by conversion or by exercise of any right to
				acquire, be in control of the insurer; or
2. Enter into an agreement to merge with or
				otherwise to acquire or attempt to acquire control of a domestic insurer or any
				person having control of a domestic insurer.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.03 - Registration

Current through June 24, 2024
(1) REGISTRATION.
(a) Except as provided under par. (b), every
				insurer which is authorized to do business in this state and which is a member
				of an insurance holding company system, and every person having or attempting
				to acquire control of such an insurer, shall register with the
				commissioner.
(b) This subsection
				does not apply to a person, foreign insurer or alien insurer which is exempt
				from registration under s.
				617.11(2),
				Stats., unless otherwise ordered by the commissioner. An insurer may register
				on behalf of a person having or attempting to acquire control of the insurer or
				on behalf of an insurer which is an affiliate of the insurer. Lack of knowledge
				that an insurer has not registered on behalf of the person or affiliate or that
				the registration is incomplete or inaccurate is not a defense for the person or
				affiliate.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.04 - Standards for transactions within an insurance holding company system

Current through June 24, 2024
(1)
				TRANSACTIONS WITHIN AN INSURANCE HOLDING COMPANY SYSTEM. An insurer, or
				affiliate of an insurer, which is required to register under s.
				Ins 40.03 may not
				enter directly or indirectly into a transaction between the insurer and the
				affiliate unless the insurer and affiliate:
(a) Comply with s.
				617.21(1),
				Stats., and sub. (6);
(b) Expenses
				incurred and payment received for the transaction are allocated to the insurer
				in conformity with customary insurance accounting practices consistently
				applied; and
(c) The books,
				accounts and records of each party to the transaction clearly and accurately
				disclose the nature and details of the transaction including the accounting
				information which is necessary to support the reasonableness of the charges or
				fees to the respective parties.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.05 - Privileged information

Current through June 24, 2024
The information required to be filed with the commissioner
				  under to ss.
				  Ins
				  40.02, 40.025, 40.07, and 40.08, is required pursuant
				  to s.
				  601.42,
				  Stats., and is subject to s.
				  601.465,
				  Stats.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.07 - Designation of the group-wide supervisor of internationally active insurance groups

Current through June 24, 2024
(1)
(a) The commissioner is authorized to act as
				the group-wide supervisor for any internationally active insurance group in
				accordance with this section. The commissioner may acknowledge that another
				regulatory official is a more appropriate group-wide supervisor when the
				internationally active insurance group meets any of the following requirements:
1. Does not have substantial insurance
				operations in the United States.
2.
				Has substantial insurance operations in the United States, but not in
				Wisconsin.
3. Has substantial
				insurance operations in the United States and Wisconsin, but the commissioner
				has determined pursuant to the factors set forth in sub. (2) and s. Ins
				40.08(2), that another regulatory official is the appropriate group-wide
				supervisor.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.08 - Duties of the group-wide supervisor

Current through June 24, 2024
(1) If the
				commissioner is the group-wide supervisor for an internationally active
				insurance group, the commissioner is authorized to engage in any of the
				following group-wide supervision activities:
(a) Assess the enterprise risks within the
				internationally active insurance group to ensure the following:
1. The material financial condition and
				liquidity risks to the members of the internationally active insurance group
				that are engaged in the business of insurance are identified by
				management.
2. Reasonable and
				effective risk mitigation measures are in place.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter I - Insurance Holding Company Standards › Section Ins 40.09 - Insurer's duty to pay reasonable expenses

Current through June 24, 2024
An insurer registered under s.
				  Ins 40.03 that is
				  also subject to ss. Ins 40.07 to 40.08 shall pay, pursuant to s.
				  Ins
				  16.01(6) (d), the reasonable expenses
				  of the commissioner's participation in the administration of the
				  internationally active group, including any of the following:
(1) The commissioner's expenses from the
				engagement of attorneys, actuaries and any other professionals.
(2) The commissioner's reasonable travel
				expenses.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.11 - Instructions

Current through June 24, 2024
(1) GENERAL. Forms A, B, C, D, E, and F
				contained in the appendix to this chapter are intended to be guides in the
				preparation of the statements required by subch. I of this chapter. They are
				not intended to be blank forms which are to be filled in. The statements filed
				shall contain the numbers and captions of all items, but the text of the items
				may be omitted provided the answers are prepared in such a manner as to
				indicate clearly the scope and coverage of the items. All instructions, whether
				appearing under the items of the form or elsewhere therein, are to be omitted.
				Unless expressly provided otherwise, if any item is inapplicable or the answer
				is in the negative, an appropriate statement to that effect shall be
				made.
(2) FILING FORMAT AND
				PROCEDURE.
(a) One complete copy of each
				statement, including exhibits and all other papers and documents filed as a
				part of the statement, shall be filed with the commissioner. At least one of
				the copies shall be manually signed in the manner prescribed on the form.
				Unsigned copies shall be conformed. If the signature of any person is affixed
				pursuant to a power of attorney or other similar authority, a copy of the power
				of attorney or other authority shall also be filed with the
				statement.
(b) Statements shall be
				prepared on paper 8 ½x 11 in size and preferably bound at the top or the top
				left-hand corner. Exhibits and financial statements, unless specifically
				prepared for the filing, may be submitted in their original size. All copies of
				any statement, financial statements or exhibits shall be clear, easily readable
				and suitable for photocopying. Debits in credit categories and credits in debit
				categories shall be designated so as to be clearly distinguishable as such on
				photocopies. Statements shall be in the English language and monetary values
				shall be stated in United States currency. If any exhibit or other paper or
				document filed with the statement is in a foreign language, it shall be
				accompanied by a translation into the English language and any monetary value
				shown in a foreign currency shall be converted into United States
				currency.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.12 - Forms-incorporation by reference, summaries and omissions

Current through June 24, 2024
(1) INCORPORATION BY
				REFERENCE. Information required by any item of form A, form B, form D, form E,
				or form F may be incorporated by reference in answer or partial answer to any
				other item. Information contained in any financial statement, annual report,
				proxy statement, statement filed with a governmental authority, or any other
				document may be incorporated by reference in answer or partial answer to any
				item of form A, form B, form D, Form E, or form F provided the document or
				paper is filed as an exhibit to the statement. Excerpts of documents may be
				filed as exhibits if the documents are extensive. Documents currently on file
				with the commissioner which were filed within 3 years need not be attached as
				exhibits. References to information contained in exhibits or in documents
				already on file shall clearly identify the material and shall specifically
				indicate that the material is to be incorporated by reference in answer to the
				item. Matter shall not be incorporated by reference in any case where the
				incorporation would render the statement incomplete, unclear, or
				confusing.
(2) SUMMARY. Where an
				item requires a summary or outline of the provisions of any document, only a
				brief statement shall be made as to the pertinent provisions of the document.
				In addition to the statement, the summary or outline may incorporate by
				reference particular parts of any exhibit or document currently on file with
				the commissioner which was filed within 3 years and may be incorporated in its
				entirety by the reference. In any case where 2 or more documents required to be
				filed as exhibits are substantially identical in all material respects except
				as to the parties to the documents, the dates of execution, or other details, a
				copy of only one of the documents need be filed with a schedule identifying the
				omitted documents and setting forth the material details in which such
				documents differ from the documents, a copy of which is filed.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.13 - Forms-extension of time to furnish

Current through June 24, 2024
(1) EXTENSION. If
				it is impractical to furnish any required information, document or report at
				the time it is required to be filed, the person required to file shall file
				with the commissioner a separate document:
(a)
				Identifying the information, document or report in question;
(b) Stating why the filing at the time
				required is impractical; and
(c)
				Requesting an extension of time for filing the information, document or report
				to a specified date.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.14 - Forms-additional information and exhibits

Current through June 24, 2024
(1) SUPPLEMENTAL
				INFORMATION. In addition to the information expressly required to be included
				in form A, form B, form C, form D, form E, and form F contained in the appendix
				to this chapter, the person required to file shall add the further material
				information, if any, which is necessary to make the information contained in
				the statements accompanying the forms not misleading. The person filing may
				also file such exhibits as it may desire in addition to those expressly
				required by the statement. Those exhibits shall be so marked as to indicate
				clearly the subject matters to which they refer.
(2) CHANGES. Changes to forms A, B, C, D, E,
				or F shall be submitted as required under ss.
				Ins
				40.02(4),
				40.04(2) and
				40.13(1) and shall
				include on the top of the cover page the phrase: "Change No. to" and indicate
				the date of the change and not the date of the original filing.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.15 - Registration form

Current through June 24, 2024
A person required to file a registration statement under
				  this chapter shall furnish the required information on form B and on form C
				  contained in the appendix to this chapter.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.16 - Alternative and consolidated registrations

Current through June 24, 2024
(1) FILING FOR
				AFFILIATE INSURER. If an authorized insurer files a registration statement on
				behalf of an insurer which is its affiliate and which is required to register
				under this chapter, the registration statement may include information which is
				not required by this chapter regarding any insurer in the insurance holding
				company system even if the insurer is not authorized to do business in this
				state. In lieu of filing a registration statement on form B, the authorized
				insurer may file a copy of the registration statement or similar report which
				it is required to file in its state of domicile, if:
(a) The statement or report contains
				substantially similar information required to be furnished on form B;
				and
(b) The filing insurer is the
				principal insurer in the insurance holding company system.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.18 - Extraordinary dividends and other distributions

Current through June 24, 2024
Requests for approval of extraordinary dividends or any other
				  extraordinary distribution to shareholders shall include the following:
(1) The amount of the proposed
				dividend;
(2) The date established
				for payment of the dividend;
(3) A
				statement as to whether the dividend is to be in cash or other property and, if
				in property, a description of the property, its cost, and its fair market value
				together with an explanation of the basis for valuation;
(4) A copy of the calculations determining
				that the proposed dividend is extraordinary. The calculations shall include the
				following information:
(a) The amounts, dates
				and form of payment of all dividends or distributions, including regular
				dividends but excluding distributions of the insurer's own securities, paid
				within the period of 12 consecutive months ending on the date fixed for payment
				of the proposed dividend for which approval is sought and commencing on the day
				after the same day of the same month in the previous calendar year;
(b) Policyholder surplus as of the 31st day
				of December of the immediately preceding calendar year;
(c) If the insurer is a life insurer, the net
				income less realized capital gains for the previous calendar year;
(d) If the insurer is not a life insurer, the
				net income less realized capital gains for the previous calendar year and the 2
				calendar years preceding that calendar year; and
(e) If the insurer is not a life insurer, the
				dividends paid to stockholders excluding distributions of the insurer's own
				securities in the preceding 3 calendar years.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.19 - Consent to jurisdiction

Current through June 24, 2024
Any person required to file consent to jurisdiction under s.
				  617.11(5),
				  Stats., shall do so using form AA contained in the appendix to this
				  chapter.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.20 - Enterprise Risk Report

Current through June 24, 2024
The ultimate controlling person of an insurer required to
				  file an enterprise risk report pursuant to s.
				  Ins
				  40.03(9), shall furnish the required
				  information on Form F in the appendix.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 40 - Insurance Holding Company System Regulation › Subchapter II - Insurance Holding Company Systems-Reporting Forms › Section Ins 40.21 - Group capital calculation

Current through June 24, 2024
(1) DISCRETIONARY
				ANNUAL FILING EXEMPTION. Where an insurance holding company system has
				previously filed the annual group capital calculation at least once, the lead
				state commissioner has the discretion to exempt the ultimate controlling person
				from filing the annual group capital calculation if the lead state commissioner
				makes a determination based upon that filing that the insurance holding company
				system meets all of the following criteria:
(a) The insurance holding company system has
				annual direct written and unaffiliated assumed premium including international
				direct and assumed premium, but excluding premiums reinsured with the Federal
				Crop Insurance Corporation and Federal Flood Program, of less than
				$1,000,000,000.
(b) The insurance
				holding company system has no insurers within its holding company structure
				that are domiciled outside of the United States or one of its
				territories.
(c) The insurance
				holding company system has no banking, depository or other financial entity
				that is subject to an identified regulatory capital framework within its
				holding company structure.
(d) The
				insurance holding company system attests that there are no material changes in
				the transactions between insurers and non-insurers in the group that have
				occurred since the last filing of the annual group capital.
(e) The non-insurers within the insurance
				holding company system do not pose a material financial risk to the insurer's
				ability to honor policyholder obligations.