Chapter Ins 15

EXEMPTIONS FROM APPLICATION OF INSURANCE CODE

Ins 15.01   Warranty plans.

Ch. Ins 15 Note Note: Chapter Ins 15 as it existed on May 31, 1991 was repealed and a new chapter Ins 15 was created effective June 1, 1991.

Ins 15.01 Ins 15.01 Warranty plans.

Ins 15.01(1) (1) Purpose. This section interprets ss. 600.01 (1) (b) 5., 601.04 (2), (3) and (4) and 600.03 (25) (a), Stats., by substituting requirements more specifically appropriate to the characteristics of the business of the issuance of warranties in lieu of the full application of chs. 600 to 646, Stats. The commissioner finds that the making of a contract relating to repair, replacement or restoration to a prescribed condition of any good, product or object is the transaction of insurance, subject to full application of chs. 600 to 646, Stats., unless the person making the contract submits to the jurisdiction of the commissioner and to the provisions of this section.

Ins 15.01(2) (2) Scope.

Ins 15.01(2)(a) (a) Subject to sub. (3), this section applies to all warrantors operating or offering to operate a warranty plan in this state.