Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 6 - General
Section Ins 6.77 - Exemption from mid-term cancellation requirements
Universal Citation: WI Admin Code ยง Ins 6.77
Current through August 26, 2024
(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.
(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.
(3) DEFINITIONS.
(a) "Aircraft insurance" has the meaning
given in s.
Ins 6.75(2)
(e).
(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.
(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.
(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.
(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.
(4) EXEMPTION.
(a) Any umbrella liability or excess
liability insurance policy is exempt from the requirements of s.
631.36(2) (a), Stats.
Note: Section 632.32(4), Stats., refers to the requirements as amended by 2009 Wisconsin Act 28.
(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.
(5) NOTICE.
(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.
(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.
Disclaimer: These regulations may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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