Section 3.44. Effective date of s. 632.897, Stats.

 

(1)  Section 632.897 , Stats., applies to group policies issued or renewed on or after May 14, 1980, or if a policy is not renewed within 2 years after the effective date of the act, s. 632.897 , Stats., is effective at the end of 2 years from May 14, 1980.

(2)  

(a) A group policy as defined in s. 632.897 (1) (c) 1. or 3. , Stats., shall be considered to have been renewed on any date specified in the policy as a renewal date or on any date on which the insurer or the insured changed the rate of premium for the group policy.

(b) A group policy as defined in s. 632.897 (1) (c) 2. , Stats., shall be considered to have been renewed on any date on which an underlying collective bargaining agreement or other underlying contract is renewed, or on which a significant change is made in benefits.

(3)  Section 632.897 , Stats., applies to individual policies issued or renewed after May 14, 1980, except that it shall not apply to any individual policy in force on May 13, 1980, in which the insurer does not have the option of changing premiums.

Cr. Register, April, 1981, No. 304 , eff. 5-1-81.