Chapter 632 — INSURANCE CONTRACTS IN SPECIFIC LINES
47 sections in this chapter.
Wis. Stat. § 632.05 Indemnity amounts
Wis. Stat. § 632.07 Prohibiting requiring property insurance in excess of replacement value
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632.07 Prohibiting requiring property insurance in excess of replacement value. A lender may not require a borrower, as a condition of receiving or maintaining a loan secured by real property, to insure the property against risks to improvements on the real property in an amount …
Wis. Stat. § 632.08 Mortgage clause
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632.08 Mortgage clause. A provision for payment to a mortgagee or other owner of a security interest in property may be contained in or added by endorsement to any insurance policy protecting against loss or destruction of or damage to property. If the insurance covers real prope…
Wis. Stat. § 632.09 Choice of law
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632.09 Choice of law. Every insurance against loss or destruction of or damage to property in this state or in the use of or income from property in this state is governed by the law of this state. History: 1975 c. 375.
Wis. Stat. § 632.10 Definitions applicable to property insurance escrow
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632.10 Definitions applicable to property insurance escrow. In ss. 632.10 to 632.104: (1) “Building and safety standards” means the requirements of chs. 101 and 145 and of any rule promulgated by the department of safety and professional services under ch. 101 or 145, and standar…
Wis. Stat. § 632.101 Policy terms
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632.101 Policy terms. (1) AFFECTED POLICIES. Except as provided in sub. (2), every property insurance policy issued or delivered in this state, including property insurance policies issued under the mandatory risk-sharing plan operating under s. 619.01, that insures real property…
Wis. Stat. § 632.102 Payment of final settlement
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632.102 Payment of final settlement. (1) WITHHOLDING. An insurer shall withhold from payment a portion of the final settlement as determined under sub. (2), if all of the following apply: (a) The amount of the final settlement exceeds 50 percent of the total of all limits under a…
Wis. Stat. § 632.103 Procedure for payment of withheld funds
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632.103 Procedure for payment of withheld funds. (1) 632.103 RELEASE TO 1ST CLASS CITY. (a) To qualify for reimbursement of expenses under sub. (2), the 1st class city must do any of the following: 1. Commence proceedings under s. 66.0413, 254.595 or 823.04 or under a local ordin…
Wis. Stat. § 632.104 Funds released to mortgagee
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632.104 Funds released to mortgagee. (1) FIRST MORTGAGE IN DEFAULT. The insurer shall release to a mortgagee funds withheld under s. 632.102, in an amount and within the period provided in sub. (2), if all of the following conditions are satisfied: (a) The mortgagee holds a first…
Wis. Stat. § 632.14 Bonds need not be under seal
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632.14 Bonds need not be under seal. No suretyship obligation need be under seal unless a seal is required by the applicable federal law or law of another jurisdiction. History: 1975 c. 375. 632.17 Validity of surety bonds. (1) FAILURE TO FILE No instrument executed by an insurer…
Wis. Stat. § 632.17 Validity of surety bonds
Wis. Stat. § 632.18 Rustproofing warranties insurance
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632.18 Rustproofing warranties insurance. A policy of insurance to cover a warranty, as defined in s. 100.205 (1) (g), shall fully cover the financial integrity of the warranty. History: 1985 a. 29.
Wis. Stat. § 632.185 Vehicle protection product warranty insurance policy
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632.185 Vehicle protection product warranty insurance policy. (1) In this section: (a) “Vehicle protection product” has the meaning given in s. 100.203 (1) (e). (b) “Warrantor” has the meaning given in s. 100.203 (1) (f). (c) “Warranty” has the meaning given in s. 100.203 (1) (g)…
Wis. Stat. § 632.22 Required provisions of liability insurance policies
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632.22 Required provisions of liability insurance policies. Every liability insurance policy shall provide that the May 22, 2026, are designated by NOTES. (Published 5-22-26) 5 Updated 23-24 Wis. Stats. INSURANCE CONTRACTS IN SPECIFIC LINES bankruptcy or insolvency of the insured…
Wis. Stat. § 632.23 Prohibited exclusions in aircraft insurance policies
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632.23 Prohibited exclusions in aircraft insurance policies. No policy covering any liability arising out of the ownership, maintenance or use of an aircraft, may exclude or deny coverage because the aircraft is operated in violation of air regulation, whether derived from federa…
Wis. Stat. § 632.24 Direct action against insurer
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632.24 Direct action against insurer. Any bond or policy of insurance covering liability to others for negligence makes the insurer liable, up to the amounts stated in the bond or policy, to the persons entitled to recover against the insured for the death of any person or for in…
Wis. Stat. § 632.25 Limited effect of conditions in employer’s liability policies
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632.25 Limited effect of conditions in employer’s liability policies. Any condition in an employer’s liability policy requiring compliance by the insured with rules concerning the safety of persons shall be limited in its effect in such a way that in the event of breach by the in…
Wis. Stat. § 632.26 Notice provisions
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632.26 Notice provisions. (1) REQUIRED PROVISIONS. Every liability insurance policy shall provide: (a) That notice given by or on behalf of the insured to any authorized agent of the insurer within this state, with particulars sufficient to identify the insured, is notice to the …
Wis. Stat. § 632.32 Provisions of motor vehicle insurance policies
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632.32 Provisions of motor vehicle insurance policies. (1) SCOPE. Except as otherwise provided, this section applies to every policy of insurance issued or delivered in this state against the insured’s liability for loss or damage resulting from accident caused by any motor vehic…
Wis. Stat. § 632.34 Defense of noncooperation
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632.34 Defense of noncooperation. If a policy of automobile liability insurance provides a defense to the insurer for lack of cooperation on the part of the insured, the defense is not effective against a 3rd person making a claim against the insurer unless there was collusion be…
Wis. Stat. § 632.35 Prohibited rejection, cancellation and nonrenewal
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632.35 Prohibited rejection, cancellation and nonrenewal. No insurer may cancel or refuse to issue or renew an automobile insurance policy wholly or partially because of one or more of the following characteristics of any person: age, sex, residence, race, color, creed, religion,…
Wis. Stat. § 632.36 Accident in the course of business or employment
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632.36 Accident in the course of business or employment. (1) RATE AND OTHER TERMS. An insurer may increase or charge a higher rate for a motor vehicle liability insurance policy issued or renewed on or after April 16, 1982, on the basis of an accident which occurs while the insur…
Wis. Stat. § 632.365 Use of emission inspection data in setting rates
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632.365 Use of emission inspection data in setting May 22, 2026, are designated by NOTES. (Published 5-22-26) 11 Updated 23-24 Wis. Stats. INSURANCE CONTRACTS IN SPECIFIC LINES rates. An insurer may not use odometer reading data collected in the course of an inspection under s. 1…
Wis. Stat. § 632.37 Motor vehicle glass repair practices; restriction on specifying vendor
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632.37 Motor vehicle glass repair practices; restriction on specifying vendor. An insurer that issues a motor vehicle insurance policy covering the repair or replacement of motor vehicle glass may not require, as a condition of that coverage, that an insured, or a 3rd party, maki…
Wis. Stat. § 632.375 Motor vehicle repair practices; restriction on specifying vendor
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632.375 Motor vehicle repair practices; restriction on specifying vendor. (1) SCOPE. This section applies to every insurer that issues or delivers in this state a motor vehicle insurance policy that covers repairs to a motor vehicle registered or principally garaged in this state…
Wis. Stat. § 632.38 Nonoriginal manufacturer replacement parts
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632.38 Nonoriginal manufacturer replacement parts. (1) DEFINITIONS. In this section: (a) “Insured” means the person who owns the motor vehicle that is subject to repair or the person seeking the repair on behalf of the owner. (b) “Insurer’s representative” means a person, excludi…
Wis. Stat. § 632.41 Prohibited provisions in life insurance
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632.41 Prohibited provisions in life insurance. (1) ASSESSABLE POLICIES. No insurer may issue assessable life insurance policies under which assessments or calls may be made upon policyholders or others. (2) BURIAL INSURANCE. Except as provided in s. 632.415, no contract in which…
Wis. Stat. § 632.415 Funeral policies
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632.415 Funeral policies. (1) In this section, “multipremium funeral policy” means a life insurance policy sold under sub. (2) for which premiums to fund the policy are paid over time. (2) A life insurance policy may provide for the assignment of the proceeds of the policy to a f…
Wis. Stat. § 632.42 Trustee and deposit agreements in life insurance
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632.42 Trustee and deposit agreements in life insurance. (1) TRUSTEE AND OTHER AGREEMENTS. An insurer may hold as a part of its general assets the proceeds of any policy subject to this subchapter under a trust or other agreement upon such terms and restrictions as to revocation …
Wis. Stat. § 632.43 Standard nonforfeiture law for life insurance
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632.43 Standard nonforfeiture law for life insurance. (1) On and after January 1, 1948, no policy of life insurance, except as stated in sub. (8), shall be issued or delivered in this state unless it shall contain in substance the following provisions, or corresponding provisions…
Wis. Stat. § 632.435 Standard nonforfeiture law for individual deferred annuities
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632.435 Standard nonforfeiture law for individual deferred annuities. (1) No contract of annuity shall be delivered or issued for delivery in this state unless it contains in substance the following provisions or corresponding provisions which in the opinion of the commissioner a…
Wis. Stat. § 632.44 Required provisions in life insurance
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632.44 Required provisions in life insurance. (1) SEPARATE BENEFITS. Every life insurance policy shall specify separately each benefit promised in the policy. (2) GRACE PERIOD. Every life insurance policy other than a group policy shall contain a provision entitling the policyhol…
Wis. Stat. § 632.45 Contracts providing variable benefits
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632.45 Contracts providing variable benefits. (1) IDENTIFICATION. Any contract issued under s. 611.25 or under any section of chs. 600 to 646 incorporating s. 611.25 by reference which provides for payment of benefits in variable amounts shall contain a statement of the essential…
Wis. Stat. § 632.46 Incontestability and misstated age
Wis. Stat. § 632.47 Assignment of life insurance rights
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632.47 Assignment of life insurance rights. (1) GENERAL. Except as provided in sub. (3), the owner of any rights under a life insurance policy or annuity contract may assign any of those rights, including any right to designate a beneficiary and the rights secured under s. 632.57…
Wis. Stat. § 632.475 Life insurance policy loans
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632.475 Life insurance policy loans. (1) DEFINITIONS. In this section: (a) “Policy” includes a life insurance policy, a certificate issued by a fraternal benefit society and an annuity contract.
Wis. Stat. § 632.48 Designation of beneficiary
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632.48 Designation of beneficiary. (1) POWERS OF POLICYHOLDERS. Subject to s. 632.47 (2), no life insurance policy or annuity contract may restrict the right of a policyholder or certificate holder: (a) Irrevocable designation of beneficiary. To make at any May 22, 2026, are desi…
Wis. Stat. § 632.50 Estoppel from medical examination
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632.50 Estoppel from medical examination. If under the rules of any insurer issuing life insurance, its medical examiner has authority to issue a certificate of health, or to declare the proposed insured acceptable for insurance, and so reports to the insurer or its agent, the in…
Wis. Stat. § 632.56 Required group life insurance provisions
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632.56 Required group life insurance provisions. Every group life insurance policy shall contain the following: (1) EVIDENCE OF INSURABILITY. A provision setting forth any conditions under which the insurer reserves the right to require a person eligible for insurance to furnish …
Wis. Stat. § 632.57 Conversion option in group and franchise life insurance
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632.57 Conversion option in group and franchise life insurance. (1) SCOPE OF APPLICATION. This section applies to all group life insurance policies other than credit life insurance policies and applies to franchise life insurance policies providing term insurance renewable only w…
Wis. Stat. § 632.60 Limitation on credit life insurance
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632.60 Limitation on credit life insurance. Nothing in chs. 600 to 646 authorizes licensees under s. 138.09 to require or accept insurance not permitted under s. 138.09 (7) (h). History: 1975 c. 375; 1979 c. 89.
Wis. Stat. § 632.62 Participating and nonparticipating policies
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632.62 Participating and nonparticipating policies. (1) AUTHORIZATION. (a) Stock insurers. A stock insurer may issue both participating and nonparticipating life insurance policies and annuity contracts, subject to this section. (b) Fraternals and mutual insurers. A fraternal or …
Wis. Stat. § 632.63 Unclaimed life insurance and annuities
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632.63 Unclaimed life insurance and annuities. (1) DEFINITIONS. In this section: (a) “Contract” means an annuity contract. “Contract” shall not include an annuity used to fund an employment-based retirement plan or program where the insurer does not perform the record-keeping ser…
Wis. Stat. § 632.64 Certification of disability
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632.64 Certification of disability. For the purpose of insurance policies that they issue, insurers doing a life insurance business in this state shall afford equal weight to a certification of disability signed by a physician with respect to matters within the scope of the physi…
Wis. Stat. § 632.65 Annuities exempt from regulation
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632.65 Annuities exempt from regulation. (1) In this section, “qualified charitable gift annuity” means an annuity that satisfies all of the following: (a) The annuity is established under a transaction that, for federal income tax purposes, is treated partly as a charitable cont…
Wis. Stat. § 632.66 Annuity contracts without life contingencies
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632.66 Annuity contracts without life contingencies. (1) The commissioner may by rule authorize insurers to issue annuity contracts which are without life contingencies. If the commissioner authorizes insurers to issue annuity contracts without life contingencies, the commissione…
Wis. Stat. § 632.67 Effect of power of attorney for health care
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632.67 Effect of power of attorney for health care. Executing a power of attorney for health care under ch. 155 may not be used to impair in any manner the procurement of a life insurance policy or to modify the terms of an existing life insurance policy. A life insurance policy …