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CHAPTER 424
CONSUMER TRANSACTIONS — INSURANCE
SUBCHAPTER I
GENERAL PROVISIONS
424.101   Short title.
424.102   Scope.
424.103   Application of general definitions.
SUBCHAPTER II
CONSUMER CREDIT INSURANCE
424.201   Definition “consumer credit insurance”.
424.202   Charge for insurance.
424.203   Conditions applying to insurance to be provided by creditor.
424.204   Maximum charge by creditor for insurance.
424.205   Refund or credit required.
424.206   Deferral, refinancing and consolidation agreements.
424.207   Term of insurance.
424.208   Amount of insurance.
424.209   Filing and approval of rates and forms.
SUBCHAPTER III
PROPERTY INSURANCE
424.301   Restrictions on property insurance.
424.302   Insurance on creditor’s interest only.
424.303   Cancellation by creditor.
424.304   Cancellation by customer.
SUBCHAPTER IV
OTHER INSURANCE PRODUCTS
424.401   Cancellation by customer.
424.402   Insurance cancellation credit or payment.
SUBCHAPTER V
INSURANCE PRACTICES
424.501   False, misleading or deceptive insurance solicitation.
424.502   Insurance commissions; limitations.
SUBCHAPTER VI
ADMINISTRATION
424.601   Cooperation between administrator and commissioner of insurance.
424.602   Administrative action of commissioner of insurance.
Ch. 424 Cross-referenceCross-reference: See definitions in s. 421.301.
GENERAL PROVISIONS
424.101424.101Short title. This chapter shall be known and may be cited as Wisconsin consumer act—insurance.
424.101 HistoryHistory: 1971 c. 239.
424.102424.102Scope. This chapter applies to agreements between a creditor and a debtor under which insurance is provided or is to be provided in relation to consumer credit transactions.
424.102 HistoryHistory: 1971 c. 239; 1973 c. 3.
424.103424.103Application of general definitions. The definitions in s. 421.301 shall apply to this chapter.
424.103 HistoryHistory: 1973 c. 3; 1981 c. 390 s. 252.
CONSUMER CREDIT INSURANCE
424.201424.201Definition “consumer credit insurance”. “Consumer credit insurance” means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
424.201(1)(1)Insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring customers of the creditor;
424.201(2)(2)Insurance indemnifying the creditor against loss due to the customer’s default; or
424.201(3)(3)A guaranteed asset protection waiver, as defined in s. 218.0148 (1) (e).
424.202424.202Charge for insurance.
424.202(1)(1)Except as otherwise provided in this chapter and subject to the provisions on additional charges (s. 422.202), and maximum charges (s. 422.201) a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by the creditor.
424.202(2)(2)This chapter does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.
424.202 HistoryHistory: 1971 c. 239; 1991 a. 316.
424.203424.203Conditions applying to insurance to be provided by creditor.
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2021-22 Wisconsin Statutes updated through 2023 Wis. Act 272 and through all Supreme Court and Controlled Substances Board Orders filed before and in effect on September 18, 2024. Published and certified under s. 35.18. Changes effective after September 18, 2024, are designated by NOTES. (Published 9-18-24)