Ins 6.17Ins 6.17 Regulation of surplus lines insurance. Ins 6.17(1)(1) Purpose. This rule implements and interprets ss. 601.42, 601.72, 601.73, 618.41 and 618.43, Stats., for the purpose of facilitating the regulation of surplus lines insurance business in this state. Ins 6.17(2)(2) Prohibited placement. No licensed surplus lines agent may place contracts of insurance with any unauthorized insurer: Ins 6.17(2)(b)(b) For any kind of insurance not specifically authorized by any of the other paragraphs of s. Ins 6.75. Ins 6.17(3)(3) Responsibilities of surplus lines agent. Every licensed surplus lines agent who procures surplus lines insurance shall: Ins 6.17(3)(a)(a) Forward promptly to the policyholder a completed copy of a Surplus Lines Insurance Proposal in a form substantially as in Appendix 1 to this rule. Ins 6.17(3)(b)(b) When applicable, forward promptly to the policyholder a notice that the unauthorized insurer with which the insurance is to be placed is not on the list of unauthorized nondomestic insurers which the commissioner believes to be reliable and solid, along with notice of any other deficiencies of the insurer of which the agent has knowledge. Ins 6.17(3)(c)(c) Keep in his or her office in this state a full and true record of each surplus lines insurance contract procured by him or her, evidenced by a copy of the daily report or other documents to show at least the following information: Ins 6.17(3)(c)2.2. Brief general description of property insured and where located; Ins 6.17(3)(d)(d) The record required by par. (d) shall be open at all times to examination by the commissioner without notice, and shall be so kept available and open to the commissioner for 3 years (5 years for notice required by par. (b)) next following the expiration or cancellation of the contract. Ins 6.17(4)(4) Advertising by surplus lines agent. A surplus lines agent may advertise the availability of services in procuring, on behalf of persons seeking insurance, contracts with insurers not holding a certificate of authority in Wisconsin, but such advertisements shall not refer to any particular unauthorized insurer or insurers. Ins 6.17(5)(5) Report and payment of tax-surplus lines insurance. All premium tax collected by the surplus lines agent shall be reported and forwarded to the commissioner on or before March 1, for all insurance procured, renewed or continued during the preceding calendar year with unauthorized insurers. The report and the premium taxes owed shall be submitted through an electronic filing system, a link to which may be found on the office’s website. Ins 6.17(6)(6) Penalty. Any violation of this rule shall subject the agent to immediate revocation of the agent’s surplus lines license and to other forfeitures and penalties provided by s. 601.64, Stats. Ins 6.17 HistoryHistory: Cr. Register, December, 1973, No. 216, eff. 1-1-74; am. (1), Register, May, 1975, No. 233, eff. 6-1-75; emerg. am. (2) (a) and (b), eff. 6-22-76; am. (2) (a) and (b), Register, September, 1976, No. 249, eff. 10-1-76; am. (2) (a) and (b), Register, March, 1979, No. 279, eff. 4-1-79; r. (3) (c), renum. (3) (d) and (e) to be (3) (c) and (d), am. (4), (6) and appendix 1, Register, August, 1982, No. 320, eff. 9-1-82; corrections in (3) (c) (intro.) made under s. 13.93 (2m) (b) 5., Stats., Register, April, 1992, No. 436, eff. 5-1-92; CR 22-076: am. (5), r. appendix 2 Register July 2023 No. 811, eff. 8-1-23. Ins 6.17 Appendix 1
SURPLUS LINES INSURANCE PROPOSAL
Name and address of applicant Date
Dear: Proposal No.
You have asked that I procure the following insurance coverage on your behalf: