Ins 6.76(3)(n)
(n) Abandonment. There can be no abandonment to this Company of any property.
Ins 6.76(3)(o)
(o) When loss payable. The amount of loss for which this Company may be liable shall be payable sixty days after proof of loss, as herein provided, is received by this Company and ascertainment of the loss is made either by agreement between the insured and this Company expressed in writing or by the filing with this Company of an award as herein provided.
Ins 6.76(3)(p)
(p) Suit. No suit or action on this policy for the recovery of any claim shall be sustainable in any court of law or equity unless all the requirements of this policy shall have been complied with, and unless commenced within 12 months next after inception of the loss.
Ins 6.76(3)(q)
(q) Subrogation. This Company may require from the insured an assignment of all right of recovery against any party for loss to the extent that payment therefor is made by this Company.
Ins 6.76 History
History: Cr.
Register, November, 1977, No. 263, eff. 12-1-77; am. (3) (a),
Register, November, 1978, No. 275, eff. 12-1-78.
Ins 6.77
Ins 6.77
Exemption from mid-term cancellation requirements. Ins 6.77(2)
(2) Scope. This section applies to all insurers authorized to write umbrella or excess liability insurance policies in Wisconsin and to all insurers authorized to write aircraft insurance policies in Wisconsin.
Ins 6.77(3)(ac)
(ac) “Application form
" means a policy form that is designated an application by the insurer and that is filed with the office of the commissioner of insurance under s.
631.20, Stats.
Ins 6.77(3)(b)
(b) “Excess liability policy" means an insurance contract providing at least $1,000,000 of liability coverage per person or per occurrence in excess of certain required underlying liability insurance coverage.
Ins 6.77(3)(c)
(c) “Umbrella liability policy" means an insurance contract providing at least $1,000,000 of liability coverage per person or per occurrence in excess of certain required underlying liability insurance coverage or a specified amount of self-insured retention.
Ins 6.77(3)(d)
(d) “War risks coverage"
means insurance coverage provided under an aircraft insurance policy for bodily injury, mental anguish, medical expense, or damage or loss to the covered aircraft or a third party's property caused by declared or undeclared war, invasion, rebellion, insurrection or warlike operations or by an attempt to or the actual seizure or detention of an aircraft by any government, military, naval, or usurped power.
Ins 6.77(5)(a)
(a) An insurer cancelling any umbrella liability policy or excess liability policy shall notify the commissioner of the grounds for such cancellation not later than the time at which the insurer notifies the policyholder of such cancellation. Insurers shall provide notice to the insured as set forth in s.
631.36 (2) (b), Stats.
Ins 6.77(5)(b)
(b) No cancellation under s.
631.36 (2) (a), Stats., of any war risks coverage contained in an aircraft insurance policy is effective until at least 7 days after the 1st class mailing or delivery of a written notice to the policyholder.
Ins 6.77 History
History: Emerg. cr. eff. 7-1-77; cr.
Register, November, 1977, No. 263, eff. 12-1-77; am. (1), (4) and (5),
Register, May, 1987, No. 377, eff. 6-1-87; am. (1) and (2), renum. (3) (a), (4) and (5) to be (3) (c), (4) (a) and (5) (a), cr. (3) (a) and (d), (4) (b) and (5) (b),
Register, July, 1990, No. 415, eff. 8-1-90;
CR 06-117: am. (1), (2) and (4) (a), cr. (3) (ac), (ag), (am) and (bm), (4) (b) and (c) and (6), renum. (4) (b) to be (4) (d),
Register June 2007 No. 618, eff. 7-1-07; correction in (1) made under s.
13.92 (4) (b) 7., Stats.,
Register January 2010 No. 649;
EmR0918: emerg. am. (1), (2), (4) (a), (b) and (6), r. (3) (ag) and (4) (c), cr. (4) (am), eff. 11-1-09;
CR 09-097: am. (1), (2), (4) (a) and (6), r. (3) (ag) and (4) (c), cr. (4) (am)
Register April 2010 No. 652, eff. 5-1-10; correction in (1) and (4) (a) made under s.
13.92 (4) (b) 7., Stats.,
Register, January, 2012 No. 673;
CR 15-032: am. (title), (1), (2), r. (3) (am), (bm), (4) (am), (b), and (6)
Register November 2015 No. 719, eff. 12-1-15; correction in (1), (2) made under s.
35.17, Stats.,
Register November 2015 No. 719.
Ins 6.78
Ins 6.78
Exemption from filing of rates. Ins 6.78(1)(1)
Purpose. The purpose of this section is to exempt from the filing requirements of s.
625.13, Stats., those rates for risks which have been customarily written on a consent-to-rate basis and certain title insurance rates, it having been determined that such filing is not necessary to protect policyholders and the public. This rule implements and interprets ss.
625.04,
625.13, and
625.15, Stats.
Ins 6.78(2)
(2) Scope. This section applies to the following lines or classes of insurance:
Ins 6.78(2)(a)
(a) The classes specified in s.
Ins 6.75 (2) (a),
(d),
(e),
(f),
(g),
(h),
(i),
(j),
(L),
(m), and
(n).
Ins 6.78(2)(b)
(b) Individual rate modifications that are a reduction from the filed title insurance rate.
Ins 6.78(3)
(3) Exempt filings. If a specific risk in a line or class of insurance set forth in sub.
(2) (a) is of the type which is customarily written on a consent-to-rate basis wherein the insured agrees to accept a rate that is different from the insurer's filed rates, the consent-to-rate shall not be filed with the commissioner, provided:
Ins 6.78(3)(a)
(a) The insurer keeps for at least 1 year after the expiration date of the policy;
Ins 6.78(3)(a)2.
2. The written application signed by the insured stating the insured's reason for requesting the rate.
Ins 6.78(3)(b)
(b) Prior to entering into such insurance agreements in Wisconsin the insurer has notified the commissioner of insurance of its intention so to do, identifying the contemplated lines and classes of insurance.
Ins 6.78(4)
(4) Exempt filing. If a title insurance rate as set forth in sub.
(2) (b) is a downward deviation of an existing filed rate, the rate shall not be filed with the commissioner provided that all of the following apply:
Ins 6.78(4)(a)
(a) The insurer keeps for at least five years after the inception date of the policy the following information:
Ins 6.78(4)(a)1.
1. The filed rate and premium and the deviated rate and premium;
Ins 6.78(4)(a)2.
2. The effective date of the policy and the location and description of the risk;
Ins 6.78(4)(b)
(b) Prior to entering into such insurance agreements in Wisconsin, the insurer has notified the commissioner of its intentions to do so, identifying the contemplated rate deviation program.
Ins 6.78 History
History: Cr.
Register, January, 1980, No. 289, eff. 2-1-80; am. (1), (2) and (3) (intro.), cr. (4),
Register, February, 1993, No. 446, eff. 3-1-93; reprinted to restore dropped copy in (3),
Register, May, 1993, No. 449.
Ins 6.785
Ins 6.785
Exemption from rate and form filing requirements. Ins 6.785(1)(1)
Purpose. This section is intended to exempt certain classes of property and casualty rates and commercial property and casualty forms from the rate and form filing requirements. This section implements and interprets ss.
625.04,
625.13,
625.15, and
631.20, Stats.
Ins 6.785(2)
(2) Scope. This section applies to the lines or classes of insurance which are listed in s.
Ins 6.75 (2) (a),
(d),
(e),
(f),
(g),
(h),
(i),
(j),
(L),
(m) and
(n) of direct insurance written on risks or operations in this state subject to s.
625.03, Stats., and which are exempted under the consent-to-rate provision of s.
Ins 6.78.
Ins 6.785(3)
(3) Findings. The commissioner of insurance finds that for certain classes of business certain risks within other classes of business and certain situations, the rate filing requirements set forth in s.
625.13, Stats., are unnecessary to achieve the purposes of ch.
625, Stats., and the policy form filing requirements set forth in s.
631.20, Stats., are unnecessary to achieve the purposes of ch.
631, Stats. The commissioner bases this finding on the following reasons:
Ins 6.785(3)(a)
(a) The manual rate, classification or form is inappropriate because it does not adequately reflect the exposure represented by the risk;
Ins 6.785(3)(b)
(b) The risk is so different from other risks that no single manual rate or classification could be representative of all such risks;
Ins 6.785(3)(c)
(c) The risk belongs to a classification that does not develop enough experience to warrant sufficient credibility for rate-making purposes;
Ins 6.785(3)(d)
(d) The risk involves a new product or coverage as to which there are no appropriate analogous exposures for rate-making purposes;
Ins 6.785(3)(e)
(e) The risk is a specialty type of insurance where enhanced speed to market for such insurance products will enhance competition and provide commercial policyholders with quicker access to new and innovative products; or
Ins 6.785(3)(f)
(f) The risk constitutes a business-to-business transaction of a sufficient size or specialized nature as to not warrant filings in order to accomplish the purposes of the statute.
Ins 6.785(4)
(4) Rate filing exemption. The following rates shall not be filed with the commissioner by the insurer or rate service organization on behalf of the insurer provided the insurer complies with sub.
(7):
Ins 6.785(4)(a)
(a) The rate for an individual risk written under a rating rule class filed with the commissioner which must be accompanied by a certification by a qualified actuary that the rate under the rating rule class cannot be objectively rated for at least one of the following reasons:
Ins 6.785(4)(a)1.
1. The class generates insufficient loss experience to be reliably used in rating;
Ins 6.785(4)(a)2.
2. The class loss experience is so volatile as to make it unreliable;
Ins 6.785(4)(a)3.
3. Prospective losses for this class are likely to change rapidly and unpredictably; or
Ins 6.785(4)(a)4.
4. Risks within the class are so dissimilar that a single rate would not be representative of all risks in the class.
Ins 6.785(4)(b)
(b) Rates for excess liability insurance provided in an amount not less than $1,000,000 in excess of a specified retained limit provided such retained limit is not less than:
Ins 6.785(4)(b)1.
1. $350,000 per occurrence as respects those exposures covered by underlying insurance; or
Ins 6.785(4)(b)2.
2. $10,000 per occurrence as respects those exposures not covered by underlying insurance.
Ins 6.785(4)(c)
(c) Rates for risks developing annual products liability and completed operations insurance premiums of $5,000 or more at the basic limit.
Ins 6.785(4)(d)
(d) Rates for risks developing annual increased limits written premium determined by customary rating procedures of $5,000 or more.
Ins 6.785(4)(e)
(e) Rates for risks developing $50,000 or more annual manual basic limit premium individually or in any combination of general liability insurance, commercial automobile, crime or glass.
Ins 6.785(4)(f)
(f) Rates for liability insurance increased limits if the risk is reinsured on a facultative basis.
Ins 6.785(4)(g)
(g) Rates for an adjustment of the aggregate limit of general liability insurance at any time during the policy period.
Ins 6.785(4)(h)
(h) Rates for coverage which is materially broader or more restrictive than the coverage upon which the manual rate is based.
Ins 6.785(4)(i)
(i) Rates for commercial property and casualty risks developing $50,000 or more in annual premium, except for any of the following:
Ins 6.785(4)(i)3.
3. Any coverage issued under an assigned risk plan or through a residual market pool or residual market facility.
Ins 6.785(4)(i)4.
4. Any insurance that provides coverage for primary personal, family, or household purposes.
Ins 6.785(5)
(5) Utilization of rate filing exemption. An insurer or a rate service organization wishing to utilize the rate filing exemption or modification granted by sub.
(4) shall have on file with the commissioner rating rules pertaining to the situations described in sub.
(4).
Ins 6.785(6)
(6) Disapproval of filed rules. If the commissioner determines that a rating rule does not meet the rate standards set forth in s.
625.11, Stats., the commissioner may exercise the authority granted by s.
625.22, Stats., and disapprove the rate.
Ins 6.785(6g)
(6g)
Form filing exemption. The commercial property and casualty insurance policy forms identified in pars.
(a) and
(b) are exempt from the filing requirements set forth in s.
631.20 (1) (a), Stats., provided the insurer complies with any requirements of chs.
600 to
655, Stats., and the Wisconsin Administrative Code that govern the content of such policy forms.
Ins 6.785(6g)(a)
(a) The following commercial property and casualty forms developing $50,000 or more in annual premium are exempt:
Ins 6.785(6g)(b)
(b) The following commercial property and casualty forms developing $75,000 or more in annual premium are exempt:
Ins 6.785(6r)
(6r)
Disapproval of exempt forms. If the commissioner determines that a policy form subject to the filing exemption granted by sub.
(6g) does not meet the standards set forth in s.
631.20 (2), Stats., the commissioner may disapprove the use of a form.
Ins 6.785(7)
(7) Insurer records. An insurer using a rate subject to the exemption granted by sub.
(4) or a form subject to the filing exemption granted by sub.
(6g) shall maintain separate records and documentation for a period of 3 years after the rate or form is no longer used. This documentation shall include all details of the factors used in determining the rate or classification for a particular risk, including conditions used to qualify a rate for an exemption under sub.
(4). The insurer shall provide these records to the commissioner upon request.
Ins 6.785(8)
(8)
Policyholder notice. Any policy exempt from filing under sub.
(6g) shall include, at the time of issuance, a notice advising the policyholder that the policy includes forms and policy terms that have not been filed with or reviewed by the commissioner of insurance.
