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 HistoryHistory: Cr. Register, November, 1977, No. 263, eff. 12-1-77; am. (3) (a), Register, November, 1978, No. 275, eff. 12-1-78.
Ins 6.77Ins 6.77Exemption from mid-term cancellation requirements.
Ins 6.77(1)(1)Purpose. This section is intended to exempt certain classes of insurance contracts from s. 631.36 (2) (a), (b) and (c), Stats. This section implements the provisions of ss. 631.01 (5) and 631.36 (1) (c), Stats.
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)(3)Definitions.
Ins 6.77(3)(a)(a) “Aircraft insurance” has the meaning given in s. Ins 6.75 (2) (e).
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(4)(4)Exemption.
Ins 6.77(4)(a)(a) Any umbrella liability or excess liability insurance policy is exempt from the requirements of s. 631.36 (2) (a), Stats.
Ins 6.77 NoteNote: Section 632.32 (4), Stats., refers to the requirements as amended by 2009 Wisconsin Act 28.
Ins 6.77(4)(d)(d) A war risks coverage provision of an aircraft insurance policy is exempt from the requirements of s. 631.36 (2) (b) and (c), Stats.
Ins 6.77(5)(5)Notice.
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 HistoryHistory: 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 6.78Ins 6.78Exemption 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;