CR 19-142 Rule Text

A copy of the full text of the proposed rule changes, analysis and fiscal estimate may be obtained from the web site at: https://oci.wi.gov/Pages/Regulation/RulesCurrentlyPending.aspx or by contacting

Karyn Culver at:

Phone:   [phone]

Email:   [e-mail]

Address:   125 South Webster St – 2nd Floor, Madison WI 53703-3474

Mail:   PO Box 7873, Madison, WI 53707-7873

Place where comments are to be submitted and deadline for submission:

Persons wishing to testify or provide oral or written comments regarding the proposed administrative rule may appear during the hearing. Additionally, the rule may be reviewed, and comments made at https://docs.legis.wisconsin.gov/code or sent to the following:

The deadline for submitting comments is 4:00 p.m. on the December 16, 2019.

Written comments can be mailed or hand-delivered to:

Julie Walsh

Legal Unit - OCI Rule Comment for Rule Ins xxx

Office of the Commissioner of Insurance

125 South Webster St – 2nd Floor

Madison WI 53703-3474

Email address:

Julie Walsh

[e-mail]

For additional information please contact Julie Walsh at [phone] or at [e-mail].

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The proposed rule changes are:

SECTION1. Ins 3.17 (6) (bm) and (8) (bm) are created to read:

Ins 3.17 (6) (bm) 1. The minimum claim reserve standards for contracts issued prior to January 1, 2017, at the option of the insurer, shall be either the reserving requirements as set forth in par. (b), or the reserving requirements set forth in the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, Appendix A-A010.

2. The minimum claim reserve standards for contracts issued on or after January 1, 2017, shall be the standards set forth in the National Association of Insurance Commissioners Valuation Manual.  

(8) (bm) 1. The minimum contract reserve standards for accident and sickness contracts issued prior to January 1, 2017, at the option of the insurer, shall be either the reserving requirements as set forth in par. (b), or the reserving requirements set forth in the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, Appendix A-A010.

2. The minimum contract reserve standards for contracts issued on or after January 1, 2017, shall be the standards set forth in the National Association of Insurance Commissioners Valuation Manual.  

SECTION 2. EFFECTIVE DATE. This rule is effective on the first day of the month commencing after the date of publication in the Wisconsin Administrative Register in accordance with s. 227.22 (2) (intro.), Stats.