Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 45 - Business transacted with producer controlled property or casualty insurer
Section Ins 45.02 - Scope
Universal Citation: WI Admin Code ยง Ins 45.02
Current through August 26, 2024
(1) This chapter applies only to insurers which are domiciled in this state or which are domiciled in a state that is not an accredited state or which does not have in effect a law which is substantially similar to this chapter.
(2)
(a)
Except as provided by par. (b), ss.
Ins 45.03 to
apply only 45.06 if, in any calendar year, the aggregate amount of gross
written premium on business placed with a controlled insurer by a controlling
producer is equal to or greater than 5% of the admitted assets of the
controlled insurer, as reported in the controlled insurer's quarterly statement
filed as of September 30 of the prior year.
(b) If both of the following are complied
with, ss.
Ins 45.03 to do
not 45.06 apply:
1. The controlling producer:
a. Places insurance only with the controlled
insurer, or only with the controlled insurer and a member of the controlled
insurer's holding company system, or the controlled insurer's parent, affiliate
or subsidiary and receives no compensation based upon the amount of premiums
written in connection with the insurance; and
b. Accepts insurance placements only from
nonaffiliated subproducers, and not directly from insureds; and
2. The controlled insurer, except
for insurance business written through a residual market facility, accepts
insurance business only from a controlling producer, a producer controlled by
the controlled insurer, or a producer that is a subsidiary of the controlled
insurer.
(3) This chapter is in addition to any other law or rule which may apply.
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