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Wis. Stat. § 645.01

Short title, construction and purpose

Known as the Insurers Rehabilitation and Liquidation Act

The act spans §§ 645.01–645.90 (67 sections).

Applied in 5 court decisions — leading case Koken v. Reliance Insurance (2006)

Most recently applied in State of Wisconsin Department of Justice v. State of Wisconsin Department of Workforce Development (December 2015)

1979 c. 89, 102, 177

How often courts cite this section

20062010201510
citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) SHORT TITLE. This chapter may be cited as the “Insurers Rehabilitation and Liquidation Act”.

(2) CONSTRUCTION: NO LIMITATION OF POWERS. This chapter shall not be interpreted to limit the powers granted the commissioner by other provisions of the law.

(3) LIBERAL CONSTRUCTION. This chapter shall be liberally construed to effect the purpose stated in sub. (4).

(4) PURPOSE. The purpose of this chapter is the protection of the interests of insureds, creditors, and the public generally, with minimum interference with the normal prerogatives of proprietors, through:

(a) Early detection of any potentially dangerous condition in an insurer, and prompt application of appropriate corrective measures, neither unduly harsh nor subject to the kind of publicity that would needlessly damage or destroy the insurer;

(b) Improved methods for rehabilitating insurers, by enlisting the advice and management expertise of the insurance industry;

(c) Enhanced efficiency and economy of liquidation, through clarification and specification of the law, to minimize legal uncertainty and litigation;

(d) Equitable apportionment of any unavoidable loss;

(e) Lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process, and by extension of the scope of personal jurisdiction over debtors of the insurer outside this state; and (f) Regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.