Every insurer is bound by any act of its agent performed in this state that is within the scope of the agent’s apparent authority, while the agency contract remains in force and after that time until the insurer has made reasonable efforts to recover from the agent its policy forms and other indicia of agency. Reasonable efforts shall include a formal demand in writing for return of the indicia, and notice to the commissioner if the agent does not comply with the demand promptly.
Wis. Stat. § 628.40
Effect of agent’s appointment on insurer
Applied in 2 court decisions — leading case Artisan & Truckers Casualty Co. v. Thorson (2012)
Most recently applied in Kolbe & Kolbe Millwork, Co. v. Manson Insurance Agency, Inc. (October 2013)
1975 c. 371, 421.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.