Chapter 645 — INSURERS REHABILITATION AND LIQUIDATION
51 sections in this chapter.
Wis. Stat. § 645.01 Short title, construction and purpose
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645.01 Short title, construction and purpose.
Wis. Stat. § 645.02 Persons covered
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645.02 Persons covered.
Wis. Stat. § 645.03 Definitions
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645.03 Definitions.
Wis. Stat. § 645.035 Bankruptcy petition is prohibited
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645.035 Bankruptcy petition is prohibited.
Wis. Stat. § 645.04 Jurisdiction and venue
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645.04 Jurisdiction and venue.
Wis. Stat. § 645.05 Injunctions and orders
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645.05 Injunctions and orders.
Wis. Stat. § 645.06 Costs and expenses of litigation
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645.06 Costs and expenses of litigation.
Wis. Stat. § 645.07 Cooperation of officers and employees
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645.07 Cooperation of officers and employees.
Wis. Stat. § 645.08 Bonds; immunity
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645.08 Bonds; immunity.
Wis. Stat. § 645.09 Commissioner’s reports
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645.09 Commissioner’s reports.
Wis. Stat. § 645.10 Continuation of delinquency proceedings
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645.10 Continuation of delinquency proceedings.
Wis. Stat. § 645.11 Effect of amendments of this chapter
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645.11 Effect of amendments of this chapter. SUBCHAPTER II SUMMARY PROCEEDINGS
Wis. Stat. § 645.21 Commissioner’s summary orders
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645.21 Commissioner’s summary orders.
Wis. Stat. § 645.22 Court’s seizure order
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645.22 Court’s seizure order.
Wis. Stat. § 645.23 Commissioner’s seizure order
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645.23 Commissioner’s seizure order.
Wis. Stat. § 645.24 Conduct of hearings in summary proceedings
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645.24 Conduct of hearings in summary proceedings. SUBCHAPTER III FORMAL PROCEEDINGS
Wis. Stat. § 645.31 Grounds for rehabilitation
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645.31 Grounds for rehabilitation.
Wis. Stat. § 645.32 Rehabilitation orders
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645.32 Rehabilitation orders.
Wis. Stat. § 645.33 Powers and duties of the rehabilitator
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645.33 Powers and duties of the rehabilitator.
Wis. Stat. § 645.34 Actions by and against rehabilitator
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645.34 Actions by and against rehabilitator.
Wis. Stat. § 645.35 Termination of rehabilitation
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645.35 Termination of rehabilitation.
Wis. Stat. § 645.41 Grounds for liquidation
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645.41 Grounds for liquidation.
Wis. Stat. § 645.42 Liquidation orders
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645.42 Liquidation orders.
Wis. Stat. § 645.43 Continuance of coverage
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645.43 Continuance of coverage.
Wis. Stat. § 645.44 Dissolution of insurer
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645.44 Dissolution of insurer.
Wis. Stat. § 645.45 Federal receivership
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645.45 Federal receivership.
Wis. Stat. § 645.46 Powers of liquidator
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645.46 Powers of liquidator.
Wis. Stat. § 645.47 Notice to creditors and others
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645.47 Notice to creditors and others.
Wis. Stat. § 645.48 Duties of agents
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645.48 Duties of agents.
Wis. Stat. § 645.49 Actions by and against liquidator
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645.49 Actions by and against liquidator.
Wis. Stat. § 645.51 Collection and list of assets
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645.51 Collection and list of assets. Cross-reference: See definitions in ss. 600.03 and 628.02. SUBCHAPTER I GENERAL PROVISIONS 645.01 Short title, construction and purpose. (1) SHORT TITLE. This chapter may be cited as the “Insurers Rehabilitation and Liquidation Act”. (2) CONS…
Wis. Stat. § 645.52 Fraudulent transfers prior to petition
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645.52 Fraudulent transfers prior to petition. (1) DEFINITION AND EFFECT. Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation under this chapter is fraudulent as…
Wis. Stat. § 645.53 Fraudulent transfers after petition
Wis. Stat. § 645.54 Voidable preferences and liens
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645.54 Voidable preferences and liens. (1) PREFERENCES. (a) Preference defined. A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, made or suffered by the insurer within one year before the…
Wis. Stat. § 645.55 Claims of holders of void or voidable rights
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645.55 Claims of holders of void or voidable rights. (1) DISALLOWANCE FOR FAILURE TO SURRENDER PROPERTY. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance, voidable under this chapter, may be allowed unless th…
Wis. Stat. § 645.56 Setoffs and counterclaims
Wis. Stat. § 645.57 Assessments
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645.57 Assessments. (1) REPORT TO COURT. As soon as practicable but not more than 2 years from the date of an order of liquidation under s. 645.42 of an insurer issuing assessable policies, including an insurer organized under ch. 612, the liquidator shall make a report to the co…
Wis. Stat. § 645.58 Reinsurer’s liability; arbitration clauses
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645.58 Reinsurer’s liability; arbitration clauses. (1) LIABILITY. Except as provided in this subsection and in s. 646.35 (8) (e), the amount recoverable by the liquidator from a reinsurer shall not be reduced as a result of delinquency proceedings, regardless of any provision in …
Wis. Stat. § 645.59 Uncollected, unearned premiums
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645.59 Uncollected, unearned premiums. An agent or broker who is a resident of this state is not liable to the liquidator of a domestic or foreign insurer for the amount of any uncollected, unearned premium. History: 1987 a. 325.
Wis. Stat. § 645.60 Applicability of claims settlement provisions to loss claims
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645.60 Applicability of claims settlement provisions to loss claims. Sections 645.46 (18), 645.61 (2) and (3),
Wis. Stat. § 645.61 Filing of claims
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645.61 Filing of claims. (1) DEADLINE FOR FILING. Proof of all claims must be filed with the liquidator in the form required by s. 645.62 on or before the last day for filing specified in the notice required under s. 645.47, except that proof of claims under s.
Wis. Stat. § 645.62 Proof of claim
Wis. Stat. § 645.63 Special claims
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645.63 (1), (3), (4) and (6), 645.64 (3), 645.65, 645.71, 645.86 and 645.87 (2) do not apply to those loss claims that are subject to ch. 646 or to corresponding laws of other states that conform to s. 646.60 (1). In addition, ss. 645.61 (1), 645.62 (1), 645.63 (2),
Wis. Stat. § 645.64 Special provisions for 3rd-party claims
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645.64 (1), (2) and (4), 645.83 (3) and 645.87 (1) do not apply to those loss claims under contracts subject to s. 646.35 or to corresponding laws of other states that conform to ss. 646.35 and 646.60 (1). History: 1979 c. 109; 1985 a. 216.
Wis. Stat. § 645.65 Disputed claims
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645.65 Disputed claims. (1) NOTICE OF REJECTION AND REQUEST FOR HEARING. When a claim is denied in whole or in part by the liquidator, written notice of the determination and of the right to object shall be given promptly to the claimant and the claimant’s attorney by first class…
Wis. Stat. § 645.66 Claims of surety
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645.66 Claims of surety. Whenever a creditor whose claim against an insurer is secured in whole or in part by the undertaking of another person fails to prove and file that claim, the other person may do so in the creditor’s name, and is subrogated to the rights of the creditor, …
Wis. Stat. § 645.67 Secured creditors’ claims
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645.67 Secured creditors’ claims. (1) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court directs: (a) By converting the same into money according to the terms of the agreement pursuant to which the security was deli…
Wis. Stat. § 645.675 Qualified financial contracts
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645.675 Qualified financial contracts. (1) In this section: (a) “Actual direct compensatory damages” includes normal and reasonable costs of cover or other reasonable measures of damages used in the derivatives, securities, or other markets for the contract and agreement claims. …
Wis. Stat. § 645.68 Order of distribution
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645.68 (9) to (11) need not be filed at all, and proof of claims for unearned premiums and claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires. (2) EXCUSED LATE FILINGS. For a go…
Wis. Stat. § 645.69 Claims for certain health care costs
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645.69 Claims for certain health care costs. Unless a lower class is applicable, a claim is included among the claims that are subject to the classification under s. 645.68 (5) if the claim is any of the following: (1) A claim against a health maintenance organization insurer or …