Ins 6.96   Prohibited business practices.

Ins 6.97   Navigator, nonnavigator assister, navigator entity, and nonnavigator assister entity records.

Ins 6.98   Prohibition of uses of designations.

Ins 6.99   Exemption.

Ins 6.01 Ins 6.01 Foreign company to operate 2 years before admission. Experience has demonstrated that until a company has engaged in the business of insurance for at least 2 years there is not a sufficient basis upon which to form a judgment as to whether its methods and practices in the conduct of its business are such as to safeguard the interests of its policyholders and the people of this state. Therefore, no application of a foreign insurance company or mutual benefit society for a license to transact business in Wisconsin will be considered until it has continuously transacted the business of insurance for at least 2 years immediately prior to the making of such application for license.

Ins 6.01 History History: 1-2-56.

Ins 6.02 Ins 6.02 Company to transact a kind of insurance 2 years before admission.

Ins 6.02(1) (1) Experience has demonstrated that until a company has engaged in a kind of insurance or in another kind of insurance of the same class for at least 2 years, there is not a sufficient basis upon which to form a judgment as to whether its methods and practices in the conduct of its business in such kind of insurance or another kind in the same class of insurance, are such as to safeguard the interests of its policyholders and the people of this state. Therefore, no application of a foreign insurance company or mutual benefit society for a license to transact a kind of insurance business in Wisconsin will be considered until it has continuously transacted that kind of insurance, or another kind of insurance in the same class of insurance as that for which it makes such application for at least 2 years immediately prior to making such application. For the purposes hereof, insurance is divided into kinds of insurance according to the provisions of s. Ins 6.75, each subsection setting forth a separate kind, and into classes of insurance upon the basis of and including the said kinds as follows:

Ins 6.02(1)(a) (a) Fire insurance includes the kinds in s. Ins 6.75 (2) (a).

Ins 6.02(1)(b) (b) Life insurance includes the kinds in s. Ins 6.75 (1) (a) and (b) but excluding all insurance on the health of persons other than that authorized in s. 627.06, Stats., and s. Ins 6.70.

Ins 6.02(1)(c) (c) Casualty insurance includes the kinds in s. Ins 6.75 (2) (c) through (n).

Ins 6.02(2) (2) Provided, however, that nothing herein shall preclude consideration of an application to transact the kind of insurance in s. Ins 6.75 (1) (c) or (2) (c) if the applicant company has transacted any of the kinds of insurance in s. Ins 6.75 (1) (a) and (b) or (2) (d), (e), (k) and (n) continuously for 2 years immediately prior to the making of application for license to transact the kind of insurance in s. Ins 6.75 (1) (c) or (2) (c).

Ins 6.02 History History: 1-2-56; emerg. am. eff. 6-22-76; am. Register, September, 1976, No. 249, eff. 10-1-76; am. Register, March, 1979, No. 279, eff. 4-1-79; corrections made under s. 13.93 (2m) (b) 7., Stats., Register, June, 1997, No. 498.

Ins 6.03 Ins 6.03 Domestication of nondomestic insurer.

Ins 6.03(1) (1) Purpose. Under s. 611.223 (1) (a), Stats., a nondomestic insurer may apply to the commissioner to become a domestic insurer. In accordance with s. 611.223 (1) (b), Stats., this section specifies the contents of the application needed from a nondomestic insurer to obtain a certificate of incorporation and certificate of authority to be a domestic insurer.

Ins 6.03(2) (2) Scope. This section applies to each nondomestic insurer which submits to the commissioner under s. 611.223 (1) (a), Stats., an application for a certificate of incorporation and a certificate of authority for domestic insurers.

Ins 6.03(3) (3) Required contents of the application. The application for a certificate of incorporation and a certificate of authority shall be filed in accordance with s. 611.223 (1) (a), Stats., and shall include the following information:

Ins 6.03(3)(a) (a) Information on the corporation and officers and directors, including all of the following:

Ins 6.03(3)(a)1. 1. The names, and for the preceding 10 years all addresses and all occupations of all existing and proposed directors and officers;

Ins 6.03(3)(a)2. 2. Certified copies of the articles and bylaws of the corporation and of any proposed amendments thereto in conjunction with the change of domicile;

Ins 6.03(3)(a)3. 3. All agreements relating to the corporation to which any existing or proposed director or officer is a party;

Ins 6.03(3)(a)4. 4. The present and proposed compensation of existing and proposed directors and officers; and

Ins 6.03(3)(a)5. 5. The holding company information required in s. Ins 40.03 (3) if the insurer must report this information under s. 617.11 (1), Stats.

Ins 6.03(3)(b) (b) The applicant’s plan for conducting the insurance business, including any proposed changes to the applicant’s current manner of conducting the insurance business, containing all of the following information:

Ins 6.03(3)(b)1. 1. A description of the geographical area in which the applicant conducts business;

Ins 6.03(3)(b)2. 2. The types of insurance the applicant writes;

Ins 6.03(3)(b)3. 3. The applicant’s marketing methods;

Ins 6.03(3)(b)4. 4. A summary of the applicant’s policies on reinsurance business ceded, including information regarding retentions, maximum risks, types of contracts such as pro rata, excess of loss, and any other information which may be material to this part of the applicant’s operation;