Wis. Stat. § 612.51
Contract forms
Redline — January 1, 2003 → current.View current text →
Current — January 1, 2007
As of January 1, 2003
(1) Approval required. No town mutual may use any policy form, including a rider, endorsement or special clause, nor any application form, unless it has been approved by the commissioner. The commissioner shall approve the form unless he or she finds:
(a) That it is inequitable, unfairly discriminatory, misleading, deceptive, obscure or encourages misrepresentation, including cases where the form:
1. Is misleading because its benefits are too restricted to achieve the purposes for which the policy is sold;
2. Contains provisions whose natural consequence is to obscure or lessen competition;
3. Is unnecessarily verbose or complex in language; or
4. Is misleading, deceptive or obscure because of such physical aspects as format, typography, style, color, material or organization.
(b) That it provides benefits or contains other provisions that would endanger the solidity of the insurer;
(c) That in the case of the policy, though not of riders and endorsements, it fails to provide the exact name of the insurer and the full address of its home office; or
(d) That it violates a statute or a rule promulgated by the commissioner, or is otherwise contrary to law.
(2) Rules. The commissioner may by rule prescribe forms to be used for policies, applications or for particular clauses.
(2) Rules. The commissioner may by rule prescribe forms to be used for policies, applications or for particular clauses.
(3) Articles and bylaws. The articles and bylaws shall be attached to or clearly incorporated by reference in every policy issued by a town mutual. They may be incorporated by reference only if each new member is supplied a copy of them and each policy specifies how additional copies may be obtained.
(3) Articles and bylaws. The articles and bylaws shall be attached to or clearly incorporated by reference in every policy issued by a town mutual. They may be incorporated by reference only if each new member is supplied a copy of them and each policy specifies how additional copies may be obtained.
(4) Limited coverage. Recovery as to any or all items of personal property insured under a policy may be limited to a percentage of the value at the time of the loss, by a clearly expressed statement to that effect in that policy.
(4) Limited coverage. Recovery as to any or all items of personal property insured under a policy may be limited to a percentage of the value at the time of the loss, by a clearly expressed statement to that effect in that policy.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.