Chapter 605, LOCAL GOVERNMENT PROPERTY INSURANCE FUND
9 sections in this chapter.
Wis. Stat. § 605.01 Definitions
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605.01 Definitions. In this chapter, unless the context requires otherwise: (1) “Local governmental unit” means any local governmental association, authority, board, commission, department, independent agency, institution, office, society or other body, including any city, county…
Wis. Stat. § 605.02 Kinds of property insured
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605.02 Kinds of property insured. 605.02(1)(1) Property of local governmental units. Any local governmental unit may insure in the property fund its property or, subject to sub. (2), property for which it may be liable in the event of damage or destruction. Property insured under…
Wis. Stat. § 605.03 Coverage to be provided
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605.03 Coverage to be provided. (1) GENERAL. (a) Mandatory coverage. Subject to par. (f), the property fund shall provide protection against fire and extended coverage perils. The coverage shall be at least as favorable as that customarily provided by policies filed with the comm…
Wis. Stat. § 605.09 Restrictions on private insurance
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605.09 Restrictions on private insurance. After a lawful vote of the local governmental unit to insure under this chapter, no such unit may pay out any money to any private insurer nor incur any indebtedness against the unit to a private insurer for any insurance on any property …
Wis. Stat. § 605.21 Manner of participation in property fund
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605.21 Manner of participation in property fund. (1) PLACING INSURANCE. Subject to s. 605.03 (1) (f), the property fund shall insure property described in s. 605.02 after receipt from the clerk of the local governmental unit of a certified copy of the resolution authorizing insur…
Wis. Stat. § 605.22 Property fund rates and assets
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605.22 Property fund rates and assets. 605.22(1)(1) Rate determination. The property fund’s annual premium rates shall be actuarially determined to be sufficient to maintain a ratio of net premiums written to surplus of no less than 200 percent. The rate standards under s. 625.11…
Wis. Stat. § 605.23 Adjustment of losses
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605.23 Adjustment of losses. (1) PAYMENT FOR LOSSES. Subject to s. 605.03 (1) (f) 2., the manager shall determine within a reasonable time any loss on insured property owned by a local governmental unit or for which the unit is liable and promptly certify the amount to the depart…
Wis. Stat. § 605.24 Recovery of losses from other parties
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605.24 Recovery of losses from other parties. (1) SUIT BY ATTORNEY GENERAL. Upon the request of the manager, the attorney general may proceed in the courts of any jurisdiction to recover from any responsible party other than an insured or any person using or dealing with the prop…
Wis. Stat. § 605.30 Inadequacy of fund
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605.30 Inadequacy of fund. If the property fund does not have sufficient assets to pay claims that are due, the secretary of administration shall transfer from the general fund to the property fund an amount sufficient to pay the losses and shall pay the losses. The property fund…