Unless otherwise ordered by the commissioner, this subchapter
applies to all insurers except:
insurer is not subject to this subchapter for a calendar year in which the
(a) Direct premiums written in
this state of less than $100,000 and less than 1,000 policyholders or
certificate holders of directly written policies in the state at the end of the
calendar year; and
premiums nationwide of less than $1,000,000 under reinsurance contracts or
treaties and direct premiums written nationwide of less than
foreign or alien insurer is exempt from this chapter except for s.
complies with another state's requirement to submit audited financial reports
and the other state's requirement is found by the commissioner to be
substantially similar to the requirements of this chapter; and
(b) It files audited financial reports with
that state's commissioner of insurance or equivalent agency.
An insurer licensed under ch.
612, Stats., if the insurer meets all of the following requirements:
(a) Has direct total written premium for the
calendar year, including premiums on nonproperty coverage, of less than
(b) Has a net of
reinsurance premium to policyholder surplus ratio of less than 3 to 1 as of the
December 31 of the year for which an audited financial report is otherwise
(c) Is not authorized
under its articles of incorporation to do business in more than 8
(d) Does not engage in
the writing of nonproperty coverage unless the nonproperty coverage is 90%
Wis. Admin. Code Office of the Commissioner of Insurance § Ins 50.02
Cr. Register, July,
1993, No. 451, eff. 8-1-93; am. (1) (b), Register, December, 1995, No. 480,
eff. 1-1-96; am. (3) (intro.) and (a) to (d) and r. (3) (e) and (f), Register,
June, 2001, No. 546, eff. 1-1-02; CR 08-053: am. (2) (a) Register December 2008
No. 636, eff. 1-1-09.