Section 6.77. Exemption from mid-term cancellation requirements.

 

(1)   Purpose. This section is intended to exempt certain classes of insurance contracts from s. 631.36 (2) (a) , (b) and (c) , Stats. This section implements the provisions of ss. 631.01 (5) and 631.36 (1) (c) , Stats.

(2)   Scope. This section applies to all insurers authorized to write umbrella or excess liability insurance policies in Wisconsin and to all insurers authorized to write aircraft insurance policies in Wisconsin.

(3)   Definitions.

(a) "Aircraft insurance" has the meaning given in s. Ins 6.75 (2) (e) .

(ac) "Application form " means a policy form that is designated an application by the insurer and that is filed with the office of the commissioner of insurance under s. 631.20 , Stats.

(b) "Excess liability policy" means an insurance contract providing at least $1,000,000 of liability coverage per person or per occurrence in excess of certain required underlying liability insurance coverage.

(c) "Umbrella liability policy" means an insurance contract providing at least $1,000,000 of liability coverage per person or per occurrence in excess of certain required underlying liability insurance coverage or a specified amount of self-insured retention.

(d) "War risks coverage" means insurance coverage provided under an aircraft insurance policy for bodily injury, mental anguish, medical expense, or damage or loss to the covered aircraft or a third party's property caused by declared or undeclared war, invasion, rebellion, insurrection or warlike operations or by an attempt to or the actual seizure or detention of an aircraft by any government, military, naval, or usurped power.

(4)   Exemption.

(a) Any umbrella liability or excess liability insurance policy is exempt from the requirements of s. 631.36 (2) (a) , Stats.

(d) A war risks coverage provision of an aircraft insurance policy is exempt from the requirements of s. 631.36 (2) (b) and (c) , Stats.

(5)   Notice.

(a) An insurer cancelling any umbrella liability policy or excess liability policy shall notify the commissioner of the grounds for such cancellation not later than the time at which the insurer notifies the policyholder of such cancellation. Insurers shall provide notice to the insured as set forth in s. 631.36 (2) (b) , Stats.

(b) No cancellation under s. 631.36 (2) (a) , Stats., of any war risks coverage contained in an aircraft insurance policy is effective until at least 7 days after the 1st class mailing or delivery of a written notice to the policyholder.

History: Emerg. cr. eff. 7-1-77; cr. Register, November, 1977, No. 263 , eff. 12-1-77; am. (1), (4) and (5), Register, May, 1987, No. 377 , eff. 6-1-87; am. (1) and (2), renum. (3) (a), (4) and (5) to be (3) (c), (4) (a) and (5) (a), cr. (3) (a) and (d), (4) (b) and (5) (b), Register, July, 1990, No. 415 , eff. 8-1-90; CR 06-117 : am. (1), (2) and (4) (a), cr. (3) (ac), (ag), (am) and (bm), (4) (b) and (c) and (6), renum. (4) (b) to be (4) (d), Register June 2007 No. 618 , eff. 7-1-07; correction in (1) made under s. 13.92 (4) (b) 7. , Stats., Register January 2010 No. 649 ; EmR0918 : emerg. am. (1), (2), (4) (a), (b) and (6), r. (3) (ag) and (4) (c), cr. (4) (am), eff. 11-1-09; CR 09-097 : am. (1), (2), (4) (a) and (6), r. (3) (ag) and (4) (c), cr. (4) (am) Register April 2010 No. 652 , eff. 5-1-10; correction in (1) and (4) (a) made under s. 13.92 (4) (b) 7. , Stats., Register, January, 2012 No. 673 ; CR 15-032 : am. (title), (1), (2), r. (3) (am), (bm), (4) (am), (b), and (6) Register November 2015 No. 719 , eff. 12-1-15; correction in (1), (2) made under s. 35.17 , Stats., Register November 2015 No. 719 .

Note

Section 632.32 (4) , Stats., refers to the requirements as amended by 2009 Wisconsin Act 28 . Microsoft Windows NT 6.1.7601 Service Pack 1