Wisconsin Administrative Code

Ins 2.09 Separate and distinct representations of life insurance.

Ins 2.12 Exceptions to unfair discrimination.

Ins 2.13 Separate accounts and variable contracts.

Ins 2.14 Life insurance solicitation.

Ins 2.15 Annuity benefit solicitations. Ins 2.16

Ins 2.16 Advertisements of and deceptive practices in life insurance and annuities. (1) PURPOSE. This section safeguards the interests of prospective purchasers of life insurance and annuities by providing the prospective purchasers with clear and unambiguous statements, explanat…

Ins 2.17 Life insurance illustrations. (1) PURPOSE. This section provides rules for life insurance policy illustrations that will protect consumers and foster consumer education. This section provides illustration formats, prescribes standards to be followed when illustrations ar…

Ins 2.18 Life settlement contracts. (1) PURPOSE. The purpose of this regulation is to interpret and implement s. 632.69, Stats. (2) DEFINITIONS. In addition to the definitions contained in s. 632.69 (1), Stats., in this section: (a) XCommissionerY means the commissioner of insura…

Ins 2.19 Military sales practices. (1) PURPOSE. (a) The purpose of this section is to set forth standards to protect active duty service members of the United States Armed Forces from dishonest and predatory insurance sales practices by declaring certain identified practices to b…

Ins 2.20 Unisex nonforfeiture values in certain life insurance policies. (1) PURPOSE. The purpose of this section is to allow insurers who have elected an operative date under s. 632.43 (6m) (h), Stats., to provide for cash surrender and paidup nonforfeiture benefits which do not…

Ins 2.30 Annuity mortality tables. (1) PURPOSE. The purpose of this section is to adopt, pursuant to s. 623.06 (2a) (b) and (d), Stats., mortality tables for use in determining the minimum standard of valuation for annuity and pure endowment contracts. (2) DEFINITIONS. (a) X1983 …

Ins 2.35 Smoker and nonsmoker mortality tables for minimum reserve liabilities and minimum nonforfeiture benefits. (1) PURPOSE. This section implements ss. 623.06 (2) (am) 3. and 632.43 (6m) (e) 3. f., Stats., by permitting the use of mortality tables that reflect differences in …

Ins 2.40 Annuity contracts without life contingencies. (1) PURPOSE. This section implements and interprets s. 632.66, Stats., by authorizing life insurers to issue annuity contracts without life contingencies and setting forth the conditions under which these annuity contracts ma…

Ins 2.45 Charitable organizations; insurable interest. (1) PURPOSE. The purpose of this section is to interpret s. 631.07, Stats., with respect to the insurable interest of charitable organizations. This section does not limit or abridge any insurable interest existing at common …

Ins 2.80 Valuation of life insurance policies. (1) PURPOSE. (a) This section establishes minimum standards under ch. 623, Stats., for life insurance policy reserves by providing tables of select mortality factors, establishing rules concerning a minimum standard for the valuation…

Ins 2.81 Recognition of the 2001 CSO mortality table for use in determining minimum reserve liabilities and nonforfeiture benefits. (1) AUTHORITY. This section is promulgated by the commissioner of insurance pursuant to s. 623.06 (2) (am) 3, Stats., standard valuation law, and s.…

Ins 20.01 Home solicitation selling. (1) PURPOSE. (a) The purpose of this section is to require certain disclosures by an insurance agent making home solicitation of insurance. (b) The office of the commissioner of insurance has received numerous complaints indicating that certai…

Ins 21.01 Termination of worker[s compensation insurance policies. (1) PURPOSE. In accordance with s. 631.36 (1) (c), Stats., this rule exempts worker[s compensation insurance, as defined in s. Ins 6.75 (2) (k), from the requirements of s. 631.36, Stats., and establishes specific…

Ins 22.01 Purpose. (1) FINDINGS. The commissioner of insurance finds that certain plans of legal expense coverage, although they may constitute insurance plans, do not require regulation by the commissioner of insurance. The conduct of the lawyers is regulated by the state suprem…

Ins 22.02 Exemptions. The provisions of chs. 600 to 655, Stats., do not apply to: (1) Any lawyer referral service operated by the Wisconsin state bar or a local bar association. (2) The furnishing of legal assistance by labor unions or other employe organizations to their members…

Ins 22.03 Limited regulation. (1) Legal expense insurance plans which market plans which comply with all the following provisions are subject only to the requirements listed in subs. (2) and (3): (a) Except as provided by par. (c), the plan[s legal services are limited to advice,…

Ins 22.05 Other legal expense insurance not autho- 2 rized. This chapter does not authorize an insurer to transact any insurance business, other than that of legal expense insurance exempted under this chapter, unless it is authorized under a certificate of authority issued by th…

Ins 23.01 Purpose. The rule establishes minimum standards for benefits, claims payments, marketing practices, compensation arrangements and reporting practices for funeral policies. History: Cr. Register, July, 1997, No. 499, eff. 10-1-97.

Ins 23.10 Definitions. In this chapter: (1) XAdvertisementY has the meaning given in s. Ins 2.16 (3) (a) 1. (2) XConsiderationY means remuneration of any kind including, but not limited to, commission payments, cash, services, benefits, bonuses, goods or the benefit of marketing …

Ins 23.20 General. (1) An insurance intermediary may sell a life insurance or annuity policy for the purpose of funding a prearranged funeral plan only if: (a) The insurance intermediary is an authorized and appointed agent under s. 445.125 (3m), Stats. of the funeral director or…

Ins 23.25 Agent representation of affiliation. (1) No insurance intermediary may represent that he or she is affiliated with or representing a funeral operator or funeral establishment unless he or she is an authorized agent of the funeral operator or funeral establishment under …

Ins 23.30 Requirements for funeral policies. (1) No insurer may sell or issue a policy as a funeral policy unless all of the following occur: (a) The policy is an individual whole life or group whole life or an annuity policy. (b) The funeral policy if issued on a multi-premium b…

Ins 23.50 Minimum standards for claims payments under a funeral policy. (1) The insurer shall not pay policy death benefits to a funeral director or funeral establishment unless the prearranged funeral plan is in effect at the time of the insured[s death. (2) In the event of the …

Ins 23.60 Requirements for advertisements of funeral policies. (1) Advertisements for funeral policies shall comply with all relevant statutes and rules, including but not limited to ch. Ins 2. (2) An insurer or insurance intermediary placing or using or publishing an advertiseme…

Ins 23.70 Marketing procedures. (1) The insurer shall establish and implement written marketing procedures for funeral policies to ensure compliance with solicitation, disclosure, and suitability requirements. (2) The insurer shall train and monitor its agent force to ensure comp…

Ins 23.80 Suitability. (1) An insurer shall establish written suitability standards to assure that inappropriate, unsuitable or excessive insurance is not sold or issued to fund prearranged funeral plans. (2) An insurer shall require that the suitability standards include, but no…

Ins 23.90 Solicitation and disclosure requirements. (1) Any insurance intermediary who solicits funeral policies shall comply with all applicable statutes and rules, including but not limited to s. 628.34 (1), Stats. and ch. Ins 20. the chapter was last published. 3 COMMISSIONER …

Ins 25.01 Authority. This chapter is promulgated pursuant to the authority granted by ss. 601.41 (3), 610.70, 628.34 (12), and 633.17, Stats. History: Cr. Register, June, 2001, No. 546, eff. 7-1-01.

Ins 25.02 Purpose and scope. (1) PURPOSES. This chapter governs the treatment of nonpublic personal health information and nonpublic personal financial information about individuals by all licensees of the office of the commissioner of insurance except to the extent that a licens…

Ins 25.03 Rule of construction. The examples in this chapter and the sample clauses in Appendix A of this chapter are not exclusive. Compliance with an example or use of a sample clause, to the extent applicable, constitutes compliance with this chapter. History: Cr. Register, Ju…

Ins 25.04 Definitions. As used in this chapter, unless the context requires otherwise: (1) XAffiliateY means any company that controls, is controlled by or is under common control with another company. (2) (a) XClear and conspicuousY means that a notice is reasonably understandab…

Ins 25.10 Initial privacy notice to consumers required. (1) INITIAL NOTICE REQUIREMENT. A licensee shall provide a clear and conspicuous notice that accurately reflects its privacy policies and practices regarding nonpublic personal financial information to all of the following: …

Ins 25.13 Annual privacy notice to customers required. (1) ANNUAL NOTICE. (a) General rule. A licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices with regard to nonpublic personal financial information not…

Ins 25.15 Information to be included in privacy notices. (1) GENERAL RULE. The initial, annual and revised privacy notices that a licensee provides under ss. Ins 25.10, 25.13, and 25.20 shall include all of the following items of information, in addition to any other information …

Ins 25.17 Form of opt out notice to consumers and opt out methods. (1) FORM. (a) Form of opt out notice. If a licensee is required to provide an opt out notice under s. Ins 25.30 (1), it shall provide a clear and conspicuous notice to each of its consumers that accurately explain…

Ins 25.20 Revised privacy notices. (1) GENERAL RULE. Except as otherwise authorized in this chapter, a licensee shall not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as describ…

Ins 25.25 Delivery. (1) HOW TO PROVIDE NOTICES. A li- the chapter was last published. 9 COMMISSIONER OF INSURANCE censee shall provide any notices that this chapter requires so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer a…

Ins 25.30 Limits on disclosure of nonpublic personal financial information to nonaffiliated third parties. (1) PROCESS. (a) Conditions for disclosure. Except as otherwise authorized in this chapter, a licensee may not, directly or through any affiliate, disclose any nonpublic per…

Ins 25.35 Limits on re-disclosure and reuse of nonpublic personal financial information. (1) REDISCLOSURE UNDER EXCEPTION. (a) Information the licensee receives under an exception. If a licensee receives nonpublic personal financial information from a nonaffiliated financial inst…

Ins 25.40 Limits on sharing account number information for marketing purposes. (1) GENERAL PROHIBITION ON DISCLOSURE OF ACCOUNT NUMBERS. A licensee shall not, directly or through an affiliate, disclose, other than to a consumer reporting agency, a policy number or similar form of…

Ins 25.50 Exception to opt out requirements for disclosure of nonpublic personal financial information for service providers and joint marketing. (1) SERVICES. (a) General rule. The opt out requirements in ss. Ins 25.17 and 25.30 do not apply when a licensee provides nonpublic pe…

Ins 25.55 Exceptions to notice and opt out requirements for disclosure of nonpublic personal financial information for processing and servicing transactions. (1) EXCEPTIONS FOR PROCESSING TRANSACTIONS AT A CONSUMER[S REQUEST. The requirements for initial notice in s. Ins 25.10 (1…